Grupo Gigante of Mexico said that over the next 15 months it will spend the equivalent of $85 million (US) to expand its floor space by between four and five percent, though the company has not revealed how many new stores it will build and how much of the new square footage will be expanded existing stores.
Gigante operates 470 units in a variety of venues and under a wide range of names -- including four stores in the US -- and another three US stores are on the agenda during the next year or so.
The company concedes that it must spend money if it is to keep up with Wal-Mart de Mexico (Walmex), which has been growing rapidly there. The company also said that the exact amount it spends could be affected by economic conditions in Mexico.
Gigante operates 470 units in a variety of venues and under a wide range of names -- including four stores in the US -- and another three US stores are on the agenda during the next year or so.
The company concedes that it must spend money if it is to keep up with Wal-Mart de Mexico (Walmex), which has been growing rapidly there. The company also said that the exact amount it spends could be affected by economic conditions in Mexico.
- KC's View:
- And they haven’t even begun opening Neighborhood Markets south of the border…
