View source for Walmart de México y Centroamérica

{{short description|Division of Walmart}}
{{Infobox company
| name = Walmart de México S.A.B. de C.V.
| logo = Walmart México y Centroamérica logo.svg
| logo_caption = 
| logo_size = 260px
| image = Walmart avila camacho .jpg
| image_caption = Walmart branch in [[Guadalajara]] 
| type = [[Public company|Public]] [[subsidiary]]
| traded_as = {{BMV|WALMEX V|5214}}
| key_people = Guilherme Loureiro ([[Chief executive officer|CEO]]) <br />Eduardo Solórzano Morales ([[Chair (official)|chairman]])
| industry = [[Retail]]
| products = 
| revenue = {{profit}} US$31.7&nbsp;billion (2012)
| net_income = {{profit}} US$1.7&nbsp;billion (2012)
| owner = 
| num_employees = 219,767
| num_locations   = 4,079 (total)<ref name=nosotros>[https://www.walmartmexico.com/conocenos/lineas-de-negocio Nosotros] WalmartMexico</ref><br/>3,154 in Mexico and 925 in Central America
| num_locations_year = 2025
| parent = [[Walmart]] (70%)
| subsid = [[Bodega Aurrerá]]
| foundation = {{start date and age|df=yes|1986||}}
| founder = Jerónimo Arango
| location = [[Mexico City, Mexico]]
| homepage = {{URL|https://www.walmart.com.mx/|walmart.com.mx}}
}}

'''Walmart de México y Centroamérica''', is the [[Mexico|Mexican]] and [[Central America]]n [[Walmart]] division. Walmart de México y Centroamérica is [[Walmart]]'s largest division outside the U.S. as of October 31, 2022, consisting of 4,079 stores around the region, including 3,154 in Mexico and 925 in Central America.<ref name=nosotros/> In Central America, it operates in [[Guatemala]], [[Honduras]], [[El Salvador]], [[Nicaragua]], and [[Costa Rica]].<ref name=centroamerica/> It has been traded in the [[Mexican Stock Exchange]] since 1977 (as '''Cifra''').<ref>{{cite web| url = http://www.milenio.com/index.php/2007/01/09/30158/| url-status = dead| archive-url = https://web.archive.org/web/20070113213300/http://www.milenio.com/index.php/2007/01/09/30158/| archive-date = 2007-01-13| title = MILENIO.COM » Wal Mart de México logra nivel más alto de ventas en 2006}} </ref> Walmart de México y Centroamérica is the biggest retailer in Latin America.

As of October 31, 2022, Walmart operates its [[retail]] outlets in Mexico and under the Walmart Supercenter, [[Sam's Club]], [[Bodega Aurrerá]], Mi Bodega Aurrera, Walmart Express, and Bodega Aurrerá Express banners. In Central America, it operates under the Despensa Familiar, Palí, Maxi Palí, Maxi Despensa, MasXMenos, Walmart Supercenter, Paiz, La Despensa Don Juan, and La Unión brands.<ref name=centroamerica/> As of 2012, the company was Mexico's largest private sector employer with 209,000 employees. Approximately one-fifth of Walmart stores in the world are in Mexico.<ref name = NYTBribe>{{cite news |url=https://www.nytimes.com/2012/04/22/business/at-wal-mart-in-mexico-a-bribe-inquiry-silenced.html |title=Vast Mexican Bribery Case Hushed Up by Wal-Mart After High-Level Struggle |newspaper=[[The New York Times]]|author=David Barstow |date=April 21, 2012 |access-date=April 22, 2012}}</ref> It competes with [[Soriana]], [[Comercial City Fresko|La Comer]], [[Chedraui]], [[H-E-B Mexico|H-E-B]], [[Casa Ley]], [[S-Mart]] and [[Calimax]].

Walmart's restaurant division, [[Vips (Mexican restaurant)|Vips]], was acquired by the Mexican restaurant company, [[Alsea (company)|Alsea]], in September 2013 for around $626 million.<ref>{{cite news| url=https://www.reuters.com/article/us-mexico-alsea-walmex-idUSBRE9891A220130910| title=Mexico's Alsea to buy Walmex restaurant chain for 8.2 billion pesos| author=Elinor Comlay| work=Reuters | date=10 September 2013}}</ref> Walmart also operated [[Suburbia (department store)|Suburbia]], a chain of department stores which was acquired by [[Liverpool (store)|Liverpool]] in 2016.

==History==

The company was founded in 1986 as '''Cifra''' by Jerónimo Arango. In 1991, Cifra and [[Walmart|Wal-Mart Stores, Inc.]] signed a joint venture agreement. This agreement allowed cooperation between the two companies and the opening of Walmart stores and Sam's Clubs in Mexico. In 1997, Walmart increased its stake by acquiring 51% of Cifra. Cifra was renamed '''Wal-Mart de Mexico, S.A. de C.V'''. Walmart again increased its stake in Wal-Mart de Mexico to 60% in April 2000.<ref>[http://www.fundinguniverse.com/company-histories/WalMart-de-Mexico-SA-de-CV-Company-History.html "Wal-Mart de Mexico, S.A. de C.V. History"] listing on Funding Universe.Com</ref> After completing the acquisition of Walmart's operations in Central America in January 2010, Walmart Mexico changed its name to '''Walmart de Mexico y Centroamérica'''.

In 1999, following the implementation of [[North American Free Trade Agreement|NAFTA]], Walmart initiated Mexico's first duty-free importation of fresh [[Canada|Canadian]] [[beef]] from Biological Farm Management Systems, an export company based in [[Alberta]].{{fact|date=August 2022}}

=== International expansion ===

==== Walmart Centroamérica ====
[[File:Walmart Costa Rica.jpg|thumb|right|A Walmart in Costa Rica]]
In 2005, Walmart entered the Central American market by acquiring 33% of Central American Retail Holding Company (CARHCO) from Dutch retailer [[Royal Ahold]] NV. CARHCO operated stores in Guatemala, El Salvador, Costa Rica, Honduras and Nicaragua. In 2006, Walmart increased its stake to 51% and changed the name to Walmart Centroamérica.

==== Walmart de Mexico y Centroamérica ====
In December 2009, Walmart de México acquired 43% of Walmart Centroamérica from Walmart Stores Inc and 40% from two minority partners, paying over $1.4 billion pesos (approximately US$110 million) in cash and shares. In early 2010, the transaction was completed and Walmart de México was renamed Walmart de México y Centroamérica.

In Mexico, Walmart has 3,154 stores, including 300 Walmart Supercenter stores and 167 Sam's Club stores. In [[Central America]], Walmart has 925 stores, including 334 in [[Costa Rica]] and 273 in [[Guatemala]].<ref name="centroamerica">[https://corporate.walmart.com/about/international/markets/central-america Walmart in Central America] - Walmart Corporate</ref>

==Labor relations==
In 2008, a Mexican court ruled that Walmart de México could not pay its employees in vouchers redeemable only at the store,<ref>{{Cite web | url=http://jurist.law.pitt.edu/paperchase/2008/09/mexico-supreme-court-orders-wal-mart-to.php | title=JURIST &#124; School of Law &#124; University of Pittsburgh | access-date=2015-09-02 | archive-date=2011-05-25 | archive-url=https://web.archive.org/web/20110525054426/http://jurist.law.pitt.edu/paperchase/2008/09/mexico-supreme-court-orders-wal-mart-to.php | url-status=dead }}</ref> as it violated an article of the country's Constitution.

In 2020, Walmart de México y Centroamérica was included in the Bloomberg Gender Equity Index for the third time. It is the only company in the self-service sector worldwide that has appeared in this index for three consecutive years. This Index is made up of 325 companies belonging to 50 industries.<ref>{{Cite news | url=https://www.bloomberg.com/company/press/bloombergs-2020-gender-equality-index-expands-to-include-325-public-companies-globally/ | title=Bloomberg's 2020 Gender-Equality Index Expands to Include 325 Public Companies Globally &#124; Press &#124; Bloomberg LP | newspaper=Bloomberg L.p. }}</ref>

==Bribery investigations==
An April 2012, investigative report in ''[[The New York Times]]'' reported that a former executive of Walmart de Mexico alleged that, in September 2005, Walmart de Mexico had paid [[bribery|bribes]] via local fixers called ''[[gestor]]es'' to officials throughout Mexico in order to obtain construction permits, information, and other favors. Walmart investigators found credible evidence that Mexican and American laws had been broken. Concerns were raised that Walmart executives in the United States "hushed up" the allegations.<ref name=Iceberg>{{cite magazine|last=Hartung|first=Adam|title=WalMart's Mexican Bribery Scandal Will Sink It Like an Iceberg Sank the Titanic|url=https://www.forbes.com/sites/adamhartung/2012/04/26/walmarts-mexican-bribery-scandal-will-sink-it-like-the-icerberg-sank-the-titanic/|magazine=Forbes|access-date=2 July 2012}}</ref> Reportedly, bribes were given to rapidly obtain construction permits, which gave Walmart a substantial advantage over its business competitors.<ref name="NYTBribe"/> A follow-up investigation by ''The New York Times,'' published December 17, 2012, revealed evidence that regulatory permission for siting, construction, and operation of nineteen stores had been obtained through bribery. There was evidence that a bribe of $52,000 was paid to change a zoning map, which enabled the opening of a Walmart store a mile from a historical site in [[San Juan Teotihuacán]].<ref name=NYT92904>{{cite news|title=No, the Conquistadors Are Not Back. It's Just Wal-Mart.|url=https://www.nytimes.com/2004/09/28/international/americas/28mexico.html|access-date=December 18, 2012|newspaper=The New York Times|date=September 28, 2004|author=James C. McKinley, Jr.}}</ref> After the initial article was released, Walmart released a statement denying the allegations and describing its anti-corruption policy. While an official Walmart report states that they found no evidence of corruption, the article alleges that previous internal reports had indeed turned up such evidence before the story became public.<ref>{{cite magazine |url=https://www.forbes.com/sites/lydiadishman/2012/04/22/walmart-in-mexico/ |title=What Walmart Might Do With Allegations of Bribery in Mexico |author=Lydia Dishman |date=April 22, 2012 |access-date=April 23, 2012 |magazine=Forbes.com}}</ref> ''[[Forbes]]'' magazine contributor, Adam Hartung, also alluded that the bribery scandal was a reflection of Walmart's "serious management and strategy troubles," stating, "[s]candals are now commonplace... [e]ach scandal points out that Walmart's strategy is harder to navigate and is running into big problems."<ref name=Iceberg />

As of December 2012, internal investigations ongoing into possible violations of the Foreign Corrupt Practices Act.<ref name=NYT121712>{{cite news|title=The Bribery Aisle: How Wal-Mart Used Payoffs to Get Its Way in Mexico|url=https://www.nytimes.com/2012/12/18/business/walmart-bribes-teotihuacan.html|access-date=December 18, 2012|newspaper=The New York Times|date=December 17, 2012|author=David Barstow|author2=Alejandra Xanic von Bertrab|author-link=David Barstow|author-link2=Alejandra Xanic von Bertrab}}</ref> Walmart has invested $99 million in the internal investigations, which have expanded beyond Mexico to implicate operations in China, Brazil, and India.<ref name=forbes>{{cite magazine|last=Brown |first=Abram |title=Wal-Mart Bribery Probe Expands Past Mexico To Brazil, China And India|url= https://www.forbes.com/sites/abrambrown/2012/11/15/probe-into-wal-mart-bribery-past-mexico-to-brazil-china-and-india/|access-date=28 December 2012|magazine=Forbes |date=15 November 2012}}</ref><ref name=NYTInquiry>{{cite news|last1=Cilfford |first1=Stephanie |last2=Barstow |first2=David |title=Wal-Mart Inquiry Reflects Alarm on Corruption |url= https://www.forbes.com/sites/timworstall/2012/11/23/wal-mart-and-corruption-in-india-is-there-actually-any-way-to-avoid-it/|access-date=28 December 2012 |newspaper=New York Times|date=15 November 2012}}</ref> The case has added fuel to the debate as to whether foreign investment will result in increased prosperity, or if it merely allows local retail trade and economic policy to be taken over by "foreign financial and corporate interests."<ref name=BloombergIndia>{{cite news|last=Sharma |first=Malavika|title=India Government Agency Proves Wal-Mart Investments|url=https://www.bloomberg.com/news/2012-12-05/india-government-agency-probes-wal-mart-investments.html |access-date=28 December 2012 |newspaper=Bloomberg |date=5 December 2012}}</ref><ref name=NYTIndia>{{cite news|last1=Thirani |first1=Neha |last2=Kumar|first2= Hari|title=Fact-Checking the F.D.I. Debates |url= http://india.blogs.nytimes.com/2012/12/07/fact-checking-the-f-d-i-debates/ |access-date=28 December 2012 |newspaper=New York Times / International Herald Tribune|date=7 December 2012}}</ref>

==Sale of Banco Walmart Financial Services to Inbursa==
In December 2014, [[Inbursa|Grupo Financiero Inbursa]] agreed to acquire Banco Walmart from the chain and create a commercial alliance to offer financial services to supermarket customers with a locally familiar banking entity, such as branded credit cards and banking services, the bank also serves Walmart associates who might need banking services such as bank accounts and salary deposits.<ref>{{Cite web | url=https://corporate.walmart.com/newsroom/2014/12/18/walmart-de-mexico-y-centroamerica-announces-the-sale-of-banco-walmart-to-ibursa-and-a-commercial-alliance | title=Walmart de México y Centroamérica Announces the Sale of Banco Walmart to Ibursa and a Commercial Alliance }}</ref>

==See also==
*[[Bodega Aurrerá]]

==References==
{{reflist|33em}}

==External links==
{{Commons category|Walmart in Mexico}}
* {{Official website|1=http://www.walmartmexico.com.mx/}}
* [http://memphis.bizjournals.com/memphis/stories/2002/10/14/daily21.html ''Wal-Mart quits Mexican trade group''], article at the [[Memphis Business Journal]].
* [http://economia.terra.com.mx/noticias/noticia.aspx?idNoticia=200912071844_TRM_78599663 "Adquisición de WalMart Centroamérica va acorde con política de expansión de la compañía"]
*[https://siila.com.mx/noticias/walmart-ampliar--su-infraestructura-con-22-nuevas-tiendas-en-nl/509/lang/es "Walmart ampliará su infraestructura con 22 nuevas tiendas en NL", article at siila.com.mx]

{{IPC companies}}
{{S&P Latin America 40}}
{{Wal-Mart}}

{{DEFAULTSORT:Walmart De Mexico Y Centroamerica}}
[[Category:Walmart|Mexico]]
[[Category:Companies based in Mexico City]]
[[Category:Retail companies established in 1952]]
[[Category:Companies listed on the Mexican Stock Exchange]]
[[Category:Companies in the Indice de Precios y Cotizaciones]]
[[Category:Companies in the S&P Latin America 40]]
[[Category:Supermarkets of Mexico]]
[[Category:Mexican subsidiaries of foreign companies]]
[[Category:Mexican companies established in 1952]]
[[Category:Discount stores of Mexico]]