Walmart is trying to get out of some Central American countries

Walmart de México y Centroamérica, through its board of directors, has announced that it is considering “strategic alternatives” with respect to its operations in El Salvador, Honduras and Nicaragua, focusing efforts and capital on its businesses and key geographies.

They explained that these alternatives could include, among other things, potential joint ventures, partnerships, strategic alliances, sales or other transactions.

Guilherme Loreiro, CEO and CEO of Walmart de Mexico and Central America said.

“As we seek to prioritize our resources and accelerate our ecosystem in Costa Rica, Guatemala and Mexico, we believe there may be attractive opportunities for further growth in El Salvador, Honduras and Nicaragua, which could be better accommodated under a different structure,” he added in a statement.

All operations of Walmart de México y Centroamérica “will continue as normal through this process.”

The company added that it will continue to comply with all its obligations towards its customers, partners, suppliers and all stakeholders.

In addition, it added that it does not guarantee that the process will result in a transaction and will inform its shareholders and the investing public in general as provided by applicable laws and regulations.

In Central America, the chain operates 812 stores (between Walmart, Paiz, Maxi Despensa, and Despensa Familiar) and generates approximately 38,000 direct jobs.

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