Wal-Mart bets on consumer sentiment in Brazil

In a recent interview, the President of Wal-Mart Brazil, Hector Núñez, has said that the way the retailer operates will allow it to adequately meet the challenges of the current financial crisis. Although he said he believes that Brazil is not immune to the turbulences of the world economic scenario, Núñez has insisted that the retailer will maintain in 2009 the investments that were announced earlier this year - USD990 million and USD1.1 billion in the opening of 80 to 90 stores. “Certainly, Brazil is not armoured against a world problem, but I believe that it will continue to grow. I do not see any recession on the horizon,' he declared. The investments planned for 2009 represent a 50% increase over the total programmed for this year. With the opening of its first eco-friendly store yesterday in Rio de Janeiro, Núñez insists that the retailer will reach its goal of opening 36 stores in 2008.

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