Wednesday, August 29, 2007

Hispanics' Hard Times Hit Wal-Mart

Hispanics' Hard Times Hit Wal-Mart

Results of U.S. Housing Slump Are Felt On Both Sides of Border With Mexico

By KRIS HUDSON and ANA CAMPOY August 29, 2007; Page A8, Wall Street Journal

  • The Mexican central bank estimates that money transfers into the country have risen 0.6% so far this year, compared with a robust 15% increase last year and 21% the year prior. Money transfers from the U.S. are estimated by economic-analysis firm Global Insight Inc. to account for 5% of Mexico's consumer spending.
  • Money transfers from the U.S. are estimated by economic-analysis firm Global Insight Inc. to account for 5% of Mexico's consumer spending.
  • WalMex racked up $18.3 billion in sales last year, accounting for nearly a quarter of the retailer's international sales and ranking it as Wal-Mart's second-largest international division behind its Asda unit in the United Kingdom.
  • An estimated 9% of Wal-Mart's U.S. shoppers were Hispanic in 2005, up from 6% in 1997, according to ACNielsen.