Latin America News & Analysis

31 October 2018
Brazil-based, Casino-owned GPA has opened the first of its recently converted Compre Bem supermarkets in the state of Sao Paulo. The retailer hopes to convert a further 13 Extra supermarkets to the Compre Bem banner by the end of 2018. The store has created 300 jobs… The new Compre Bem store is in Taubaté. GPA has invested BRL6m (US$1.6m) in the 2,900 sq. m store, which has an assortment of...
30 October 2018
Mexico-based, Femsa-owned OXXO has reported a 7.9% growth in its Q3 2018 revenue versus the same period in 2017. The company attributes the growth to higher traffic at its convenience stores. Net profit fell by 85%... Femsa generated a revenue of MXN118.4bn (US$6.3bn) in Q3 2018 compared to MXN109bn in Q3 2017. However, the company’s net profit fell by 85% to MXN4.7bn (US$2.4m) compared wit...
19 October 2018
Casino reported Q3 sales saying net sales rose 5.4% on an organic basis and by 3.3% in same-store terms. The retailer said it had enjoyed accelerated growth in both France and Latin America, echoing statements from Carrefour in its own third quarter results. France: growth across formats Casino said total sales in its home market rose 2.0%, by 2.0% on an organic basis and by 1.9% in s...
18 October 2018
France-based Carrefour has said ‘ better momentum in France ’ and accelerating growth in Brazil ’ had underpinned an acceleration in sales growth during the third quarter. Carrefour said total sales rose 2.7% at constant exchange rates, to €21.09bn, with like-for-like sales rising 2.1%. Roll out of 2022 Transformation Plan aiding results The retailer pointed to the roll out of its 2022 Tra...
18 October 2018
Amazon is searching for space to build its fourth distribution centre in Mexico, according to reports from Reuters. The distribution centre, if opened, will help support the retailer’s growth in the country’s ecommerce market. Amazon targets Queretaro… Amazon hopes to build the distribution centre in Queretaro and has already considered several properties. The company needs 50 acres of land...
17 October 2018
As part of its annual update for investors, Walmart shared its growth forecasts and capital expenditure plans for next year, and how these align with its plans to develop a global ecosystem. Anticipating sales growth of 3.0% in 2019/20 Building on the strong performance the business is currently delivering, Walmart is planning for 3% sales growth in constant currency next year. In the US, i...
05 October 2018
The FEMSA-owned, convenience retailer OXXO is expanding into Peru and will open its first store in the capital, Lima. Mexico’s leading convenience retailer… OXXO is Mexico’s leading convenience retailer and has expanded rapidly since 2010, adding over 1,000 stores per year. OXXO has not yet been able to replicate success in its other markets, Chile and Colombia. …will open 300 stores in ...
01 October 2018
The US, Mexico and Canada have formed a new trade agreement, USMCA, developed to replace the existing NAFTA agreement. Canada signs-up to US-Mexico deal Replacing the current NAFTA agreement has been a key pillar of the current US Government’s strategy to improve trade deals for the US. While the US and Mexico formed an agreement last month, Canada has also agreed to sign ahead of a deadlin...
27 September 2018
Carrefour Brazil has announced plans to invest BRL1.8bn (USD443.2m) into opening new stores. Store openings Carrefour Brazil hopes to open 20 wholesale Atacadão stores, and additional small-sized Carrefour Market and Carrefour Express stores. Though the exact numbers are unknown. The new stores will be opened in 2019. Continued expansion Carrefour Brazil’s planned investment shows a c...
26 September 2018
Mexican beverage and retail company Femsa is set to acquire Ecuadorean drugstore operator Corporación GPF. The purchase will be made through Socofar Femsa controls Coca-Cola Femsa and operates the largest convenience retailer in Mexico, OXXO. In 2015, Femsa secured a 60% stake in Chile’s leading drugstore operator, Socofar. Femsa will purchase Corporación GPF through Socofar. GPF has 88 yea...