Mexico's Walmex says 2008 may prove challenging due to a slowdown in consumer spending. Walmex, the Mexican arm of U.S. retail giant Wal-Mart Stores Inc., is set for another tough year amid an economic slowdown that is making it more difficult for customers to buy anything from food to clothing. The company's CEO Eduardo Solorzano, speaking at the 2008 Reuters Latin American Investment Summit in Mexico City on Wednesday, says that despite the challenging environment he hopes first quarter results will "be decent." (Interview in Spanish) Speaker: Eduardo Solorzano CEO, Walmex English Translation: "The macroeconomic environment is not favorable because there is a slowdown in general of the world economy led by the United States. The link that Mexico has with the economy of the United States, makes us assume that there will be a deceleration of Mexico's economy. Maybe this has also been accompanied by inflationary pressures in raw materials and that ends up having an impact on many of the products we sell." "On March 8, we will prepare a report. I think that it will be a good quarter, not spectacular, but it will be good. We will have to work double as hard for the rest of the year to achieve the same results expected by our clients, our associates, our shareholders." "Our business plans are exclusively based on plans and timetables. Each year, we prepare a master plan for the next five years. We have it ready until 2012. We are weeks away from starting to plan 2013. In any of our scenarios when we prepare our plans, have we considered the possibility of an acquisition or anything like that."
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April 2008 
Reuters
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