Mexico's biggest retailer is prepared should the economy slow down, its CFO said at Reuters' Latin America Investment Summit. Fred Katayama reports.
Wal-Mart de Mexico says it's ready should the economy slow down. Consumers there are facing high interest rates and inflation. Olga Gonzalez, chief financial officer at Mexico's largest retailer, spoke at Reuters' Latin America Investment Summit. SOUNDBITE: OLGA GONZALEZ, CHIEF FINANCIAL OFFICER, WAL-MART DE MEXICO, (ENGLISH VOICEOVER FROM SPANISH), SAYING: "We feel we have done the foundational work so that if we have more negative macroeconomic conditions, or if they worsen, we can manage to present an offer of value that will be high. Also, this business model that is primarily food will have less of an impact during negative cyclical swings in the economy." She says Walmex's core food business is relatively insulated from economic swings because customers make cuts elsewhere in tough times. She says the retailer can meet consumer demands at various price points with brands ranging from the budget Bodega chain to the higher-end Superama line.