Retail association Antad predicts $2 billion investment in remodeling, new stores, and logistics
- Mexican retailers plan to invest $2 billion in 2024
- Investment will focus on remodeling, new stores, and logistics
- Same-store sales at member stores increased by 5.4% in 2023
- Groceries and perishables saw a 7.7% rise in sales
- Total sales reached around $88 billion in 2023
- Antad estimates a 4.8% increase in same-store sales for this year
- Total sales expected to grow by 7.8% in 2024
- Antad comprises 93 chains including supermarkets, department stores, and specialty retailers
Mexican retailers are set to boost their investment in 2024, with plans to spend around $2 billion. The investment will primarily focus on remodeling existing stores, opening new stores, and improving logistics. In 2023, same-store sales at the 48,000 member stores of retail association Antad increased by 5.4%, driven by a significant 7.7% rise in sales of groceries and perishables. Total sales, including stores opened in the previous 12 months, reached approximately $88 billion. Antad estimates a further 4.8% increase in same-store sales for this year, with total sales expected to grow by 7.8%. Antad comprises 93 chains, including supermarkets, department stores, and specialty retailers. It is worth noting that the country’s largest retailer, Wal-Mart de Mexico, and the biggest convenience-store chain operator, Femsa, are not members of the association.
Public Companies: Wal-Mart de Mexico (N/A)
Private Companies: undefined
Key People:
Factuality Level: 8
Justification: The article provides specific information about the planned investments by Mexican retailers, the increase in same-store sales, and the total sales figures. The information is sourced from the retail association Antad. However, the article does not provide any additional context or analysis, and it does not mention any potential challenges or risks that could affect the projected growth.
Noise Level: 7
Justification: The article provides some information on the investment plans of Mexican retailers and the sales growth in the previous year. However, it lacks in-depth analysis, evidence, and actionable insights. It also does not explore the consequences of these investments on the economy or the risks involved. The article stays on topic but lacks scientific rigor and intellectual honesty.
Financial Relevance: Yes
Financial Markets Impacted: The news article pertains to the retail industry in Mexico. It mentions that Mexican retailers plan to invest around $2 billion in 2024, which indicates potential growth and investment opportunities in the sector. The article also provides information on the sales performance of retail stores and the total sales figures, which can be relevant for investors and market analysts.
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The news article does not describe any extreme events. It focuses on the investment plans and sales performance of Mexican retailers.
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