Moratorium on New Stores in Mexico City

According to a Wall Street Journal article published yesterday, Mexico City has placed a three-year ban on the opening of new stores in Mexico City, including grocers, convenience stores and hypermarkets. The Mayor of Mexico City, Marcelo Ebrard, proposed the measure,"We want the markets to survive, to continue to be the neighborhood centers."

The country's largest retailer is Wal-Mart de Mexico SAB, or Walmex, part of Wal-Mart Stores Inc. Although the moratorium has been enacted, stores with permits and construction under way shouldn't be affected. Walmex plans to invest an estimated $1.21 billion in Mexico with the opening 365 stores this year alone.


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