Wal-Mart halts Mexico expansion
Wal-Mart Stores Inc., one of the first and most aggressive U.S. retailers in Mexico, has suspended its 1995 Mexican expansion plans because of the five-week, 40 percent slide in the value of the peso, a company spokesman said yesterday.
Wal-Mart, based in Bentonville, Ark., previously had planned to open 13 Sam's Club stores and 12 Wal-Mart Supercenters in Mexico in 1995, in conjunction with its Mexican partner, Cifra SA.