(Updates with CEO comments in first, second paragraphs.)
Feb. 21 (Bloomberg) -- Wal-Mart de Mexico SAB, Latin America’s largest retailer, is forecasting that sales will grow 13 percent to 15 percent this year, Chief Executive Officer Scot Rank said.
The retailer doesn’t see consumer prices in 2012 being “radically different” and the cost of goods shouldn’t “positively or negatively affect margins,” Rank said in a meeting with analysts transmitted on the company’s website.
Walmex, as the Mexico City-based company is known, generated revenue of 381 billion pesos in 2011, up 13 percent from the previous year, according to results published Feb. 20.
The retailer will have capital expenses this year of 19.7 billion pesos, the company said in a separate statement today to the Mexican stock exchange. Most of the spending will go to open new stores and renovate existing ones this year, according to a presentation posted on the company’s website.
The company will open 410 to 436 stores and increase floor space by 12 percent in Mexico and 9 percent in Central America.
--Editors: Stephen West, Andrew Pollack
To contact the reporters on this story: Jonathan Roeder in Mexico City at firstname.lastname@example.org Crayton Harrison at email@example.com
To contact the editor responsible for this story: Jose Enrique Arrioja at firstname.lastname@example.org