US supermarket chain Wal-Mart announced Friday that it was weighing whether to sell its restaurant unit in Mexico, one of the country's largest. Vips is a leading restaurant chain in Mexico, with 364 locations drawing 79 million customers a year. The division of Walmex, which is controlled by Wal-Mart stores, includes El Porton, Ragazzi and La Finca restaurants. Walmex said it "has begun a process to consider potential offers from third parties interested in acquiring its restaurant division Vips." Vips has only just been put on the market and "it cannot be guaranteed that the sale will be carried through," the company added in a statement. It said the restaurant unit accounted for 1.7 percent of Walmex's consolidated sales and 1.6 percent of its net earnings last year. Wal-Mart employs more than 234,000 people in Mexico in several companies, including restaurant chains, three supermarket chains, clothing retailer Suburbia and a bank.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor