The girl from Ipanema will soon be strolling in her discount bikini!
Wal-Mart to make $1 billion expansion in Brazil
Wal-Mart to invest at least $1 billion to expand in Brazil
August 14, 2008: 02:25 AM EST
NEW YORK (Associated Press) - Wal-Mart Stores Inc. announced on Wednesday that it will invest the equivalent of at least $1 billion in Brazil to expand its operations in Latin America's biggest country.
The announcement was made in a statement issued shortly after Craig Herkert, president and CEO of Wal-Mart's America's division, and Brazilian President Luiz Inacio Lula da Silva met in the capital city, Brasilia.
"The retailer will make its largest investment yet in the country since it started operating in Brazil fourteen years ago," the statement said, adding that Wal-Mart Brazil plans to invest from 1.6 billion reals to 1.8 billion reals ($1 billion to $1.12 billion) and open 80 to 90 new stores.
http://money.cnn.com/news/newsfeeds/articles/apwire/4a9b8e1e66ffa9d5952255613a89f195.htm