Content about Mexico

March 27, 2013

Wal-Mart Stores Inc. revealed in a Tuesday SEC filing that it will most likely incur a loss from bribery probes into its operations in Mexico and other countries.

Bentonville, Ark. -- Wal-Mart Stores Inc. revealed in a Tuesday SEC filing that it will most likely incur a loss from bribery probes into its operations in Mexico and other countries.

According to the filing, Wal-Mart said it expects to incur costs beyond the $157 million it spent on the probes in 2013, but didn’t elaborate on the amount or the size of the potential loss.

February 22, 2013

Expenses related to Walmart’s ongoing Foreign Corrupt Practices Act and related compliance matters will reach $200 million by the end of the first quarter, according to disclosures made Thursday in conjunction with the release of fourth quarter financial results.

Expenses related to Walmart’s ongoing Foreign Corrupt Practices Act and related compliance matters will reach $200 million by the end of the first quarter, according to disclosures made Thursday in conjunction with the release of fourth quarter financial results.

In addition to the $99 million Walmart had spent on FCPA and compliance matters at the end of the third quarter, it spent another $58 million during the fourth quarter and said the first quarter could see expenses ranging from $40 million to $45 million.

January 25, 2013

Former SuperValu CEO Jeff Noddle and former Pepsi Bottling Group, Mexico, chairman Rogelio Rebolledo are the newest members of the Clorox board of directors.

Former SuperValu CEO Jeff Noddle and former Pepsi Bottling Group, Mexico, chairman Rogelio Rebolledo are the newest members of the Clorox board of directors.

Noddle, 66, served as executive chairman at SuperValu until he retired in 2010 and from 2002 through 2009 he was the company’s chairman and CEO. Rebolledo, 68, retired from Pepsi’s Mexican bottling operation as chairman in 2007.

January 11, 2013

The head of Walmart’s Chilean operation will assume responsibility for all of Latin America following the retirement of current president and CEO Eduardo Solorzano.

The head of Walmart’s Chilean operation will assume responsibility for all of Latin America following the retirement of current president and CEO Eduardo Solorzano.

December 18, 2012

Walmart’s ongoing investigation into bribery allegations was thrust into the spotlight again on Monday after the New York Times ran a lengthy piece detailing how an elaborate series of payments accelerated construction of a controversial store in Mexico City.

Walmart’s ongoing investigation into bribery allegations was thrust into the spotlight again on Monday after the New York Times ran a lengthy piece detailing how an elaborate series of payments accelerated construction of a controversial store in Mexico City.

December 12, 2012

Sugar substitute Truvia will expand beyond U.S. borders, bringing its stevia sweeteners to Mexico.

WAYZATA, Minn. — Sugar substitute Truvia will expand beyond U.S. borders, bringing its stevia sweeteners to Mexico.

Truvia has joined forces with Grupo Herdez, a market leader in the production, distribution, and sale of foods in Mexico, to distribute and market Truvia sweetener in Mexico. Truvia, which recently branched into Canada, will now have a presence throughout North America in 2013, although it could face an uphill battle in Mexico where artificial sweeteners have yet to catch on with consumers.

December 4, 2012

AutoZone said it acquired online automotive retailer AutoAnything.com in conjunction with the release of first quarter earnings Tuesday morning.

AutoZone said it acquired online automotive retailer AutoAnything.com in conjunction with the release of first quarter earnings Tuesday morning.

November 12, 2012

Home Depot has opened its 100th location in Mexico, according to an article in El Financiero. The Atlanta-based retailer now operates 95 stores in 60 cities in Mexico, where it generates annual revenues of $1 billion, the newspaper said.

In the final quarter of 2012, Home Depot will open stores in the towns of Coahuila, Sonora, Veracruz, Michoacán and Nuevo León.

 

September 26, 2012

Global flavorings leader McCormick & Company named Eli Lilly & Company executive Jacques Tapiero to its board.

Global flavorings leader McCormick & Company named Eli Lilly & Company executive Jacques Tapiero to its board.

Tapiero has served as SVP and president of emerging markets for Lilly since 2009 and brings more than 25 years of international business experience to the $3.5 billion spice company. Tapiero currently leads Lilly's business strategy in many of the world's fastest-growing markets, such as China, Russia, Brazil, Mexico, South Korea and Turkey. He is a member of Lilly's executive committee.

September 10, 2012

Gap Inc. will open its first standalone store in Mexico, part of the retailer’s previously announced global expansion strategy.

SAN FRANCISCO — Gap Inc. will open its first standalone store in Mexico, part of the retailer’s previously announced global expansion strategy.

The new store, to be located at Interlomas Mall outside Mexico City, expands on Gap’s store-in-store concepts in Liverpool Department stores in the region.

August 17, 2012

It may be the right thing to do long-term, but Walmart’s plans to slow growth in China, Mexico and Brazil didn’t sit well with investors this week.

It may be the right thing to do long-term, but Walmart’s plans to slow growth in China, Mexico and Brazil didn’t sit well with investors this week.

The revelation that Walmart would add between 21 and 23 million square feet of space versus the previously planned addition of 30 to 33 million square feet will result in Walmart International spending between $4.6 billion and $5 billion compared to a previously budgeted amount of $5 billion to $5.5 billion.

July 27, 2012

An “exclusive” report from Reuters this week suggests U.S. authorities are poised to put the retail industry under the microscope as a result of Walmart’s bribery scandal in Mexico.

An “exclusive” report from Reuters this week suggests U.S. authorities are poised to put the retail industry under the microscope as a result of Walmart’s bribery scandal in Mexico.

July 12, 2012

Heineken USA announced that it has brought Indio, a dark beer that has been sold in Mexico since 1893 to the United States.

WHITE PLAINS, N.Y. — Heineken USA announced that it has brought Indio, a dark beer that has been sold in Mexico since 1893 to the United States. The beer is now available in 6-pack and 12-packs at locations throughout Chicago,Los Angeles, San Diego, San Francisco, Austin, Dallas, Houston and San Antonio.

June 29, 2012

Walmart’s Bodega Aurrera stores in Mexico and Lider stores in Chile are among the most valuable Brands in Latin American, according to an extensive new report by global communications giant WPP.

Walmart’s Bodega Aurrera stores in Mexico and Lider stores in Chile are among the most valuable Brands in Latin American, according to an extensive new report by global communications giant WPP.

June 22, 2012

The timing of store openings in Mexico and Central America will be delayed by as much as 90 days due to what the company described as “process changes” that will increase the time required to open a store.

The timing of store openings in Mexico and Central America will be delayed by as much as 90 days due to what the company described as “process changes” that will increase the time required to open a store.

Wal-Mart de Mexico, S.A.B. de C.V. in an update to its expansion program disclosed to the Mexican Stock Exchange that it contemplated completing its 2012 expansion program 60 to 90 days later than originally planned. As a result new store openings for the current year will now range between 325 and 335 units.

June 22, 2012

The timing of store openings in Mexico and Central America will be delayed by as much as 90 days due to what the company described as “process changes” that will increase the time required to open a store.

The timing of store openings in Mexico and Central America will be delayed by as much as 90 days due to what the company described as “process changes” that will increase the time required to open a store.

Wal-Mart de Mexico, S.A.B. de C.V. in an update to its expansion program disclosed to the Mexican Stock Exchange that it contemplated completing its 2012 expansion program 60 to 90 days later than originally planned. As a result new store openings for the current year will now range between 325 and 335 units.

June 11, 2012

A report by Reuters said that New York City's pension funds have filed a derivative lawsuit against Wal-Mart Stores Inc. based on reported allegations of bribery in Mexico and a possible cover-up by Wal-Mart officials.

New York -- A Monday report by Reuters said that New York City's pension funds have filed a derivative lawsuit against Wal-Mart Stores Inc. based on reported allegations of bribery in Mexico and a possible cover-up by Wal-Mart officials.
 
The suit, filed in Delaware Chancery Court, alleges that Wal-Mart's officers and board of directors breached their fiduciary duty to both the company and shareholders by failing to properly handle claims of alleged bribery and apparently attempting to cover up details of the issue.

June 1, 2012

Walmart held its annual shareholders’ meeting Friday morning against the backdrop of the company’s 50th anniversary and allegations of corruption in Mexico.

BENTONVILLE, Ark. — Walmart held its annual shareholders’ meeting Friday morning against the backdrop of the company’s 50th anniversary and allegations of corruption in Mexico.

The seemingly diametrically opposed situations presented senior executives with the opportunity to underscore how the company’s unique culture and such enduring values as integrity would power future growth.

May 22, 2012

The California State Teachers' Retirement System (CalSTRS) intends to use its 5.3 million shares to block the reelection of the entire board of directors of Wal-Mart Stores.

The California State Teachers' Retirement System (CalSTRS) intends to use its 5.3 million shares to block the reelection of the entire board of directors of Wal-Mart Stores. You may recall this is the same group that filed suit against Walmart and its executives over their alleged actions in Mexico.

May 18, 2012

Sam's Club shoppers in Mexico who have a hankering for deep dish pizza will soon be able to satisfy their craving thanks to a new deal with Uno Foods and Sam's Club.

Sam's Club shoppers in Mexico who have a hankering for deep dish pizza will soon be able to satisfy their craving thanks to a new deal with Uno Foods and Sam's Club. Uno's deep dish pizza, artisan thin crust varieties and other items will be distributed at Sam's Clubs throughout Mexico.

May 8, 2012

Charges related to store closures in the United States caused OfficeMax's first quarter net income to drop from $4.9 million, or 6 cents per diluted share, compared with $11.4 million, or 12 cents per diluted share, in the first quarter of 2011.

NAPERVILLE, Ill. — Charges related to store closures in the United States caused OfficeMax's first quarter net income to drop from $4.9 million, or 6 cents per diluted share, compared with $11.4 million, or 12 cents per diluted share, in the first quarter of 2011. Adjusting for these charges, net income for the quarter was $20.3 million, or 23 cents per diluted share, compared with $11.4 million, or 13 cents per diluted share for the same period last year.

May 4, 2012

The California State Teachers’ Retirement System (CalSTRS) this week filed a lawsuit against current and former Walmart executives stemming from the April 22 New York Times article, which chronicled the company’s alleged use of bribes to accelerate expansion in Mexico and efforts by top executives to quash an investigation when the situation was called to their attention.

The California State Teachers’ Retirement System (CalSTRS) this week filed a lawsuit against current and former Walmart executives stemming from the April 22 New York Times article, which chronicled the company’s alleged use of bribes to accelerate expansion in Mexico and efforts by top executives to quash an investigation when the situation was called to their attention.

April 26, 2012

With all sorts of media outlets riding the coattails of the New York Times investigative reporting on Walmart’s alleged bribery of Mexican officials and subsequent cover up, Forbes asked the logical question of whether paying money to government officials to get things done in Mexico is even illegal under the U.S. Foreign Corrupt Practices Act. Read more.

 

April 23, 2012

Wal-Mart Stores confirmed that it is investigating its operations in Mexico for possible violations of the U.S. law that prohibits bribery overseas.

NEW YORK — Wal-Mart Stores confirmed that it is investigating its operations in Mexico for possible violations of the U.S. law that prohibits bribery overseas. The acknowledgement came in response to a lengthy article by The New York Times on Saturday that alleged the giant discounter first learned of allegations of "widespread bribery" by its workers in the country in 2005 and that top executives subsequently covered them up. 

February 23, 2012

RadioShack Corp. said Thursday that it has named William "Bill" Nebes III as senior VP, overseeing the company's operations in Mexico.

FORT WORTH, Texas — RadioShack Corp. said Thursday that it has named William "Bill" Nebes III as senior VP, overseeing the company's operations in Mexico.

Nebes will report to Jim Gooch, president and CEO.

Nebes has served as VP Mexico operations for RadioShack since February 2009, shortly after RadioShack acquired full ownership of the Mexico business in December 2008.