Walmart provides for investing about $ 1 billion in Brazil in 2016

SÃO PAULO-although it made cuts with closing stores, Walmart Brazil calculates have invested more than $ 1 billion in the country over the last year and believes in a landing next to 2016. The information was given by the President of the network in Brazil, Flavio Cotini. He participated in event of Amcham Brazil, in São Paulo.
The Executive said that the network had to close stores with poor performance, which represented around 5% of total sales. There were 60 closed stores in the country, according to the Group announced in January. "It''s not easy to take this decision, but in retail we have to review the efficiency of stores," he said.
According to him, the company has invested in improvements in stores and integration of systems of different flags of the group in the country. "We invest in reform of stores, equipment more efficient in terms of energy consumption and better exposure of products to make the shopping experience more convenient," he said.
Walmart currently has 485 shops the Brazil and is the third-largest supermarket group, according to the Brazilian Association of Supermarkets (Open). The group closed 2015 with a gross revenue of R$ 29.3 billion, 1.1% indentation before 2014 and a 0.76 point drop in market share.