Liverpool, Mexico’s largest department store, is set to make big investments in 2013. Plans include opening 4 new stores and 3 malls, which would bring the total to 103 stores and 22 malls throughout Mexico. The company says it plans to invest $470 Million USD (6.5 Billion MXN) on the new stores and remodeling some of its existing stores.
The retailer had a great 2012, with shares up 36%. Mexican retailers in general had a great year as sales were up 11.3% year over year according to Mexico’s retail association, ANTAD. Retail sales beat expectations for the year.