March 13, 2019 / 12:38 AM / 2 months ago

UPDATE 1-Mexico's Walmex plans higher capex in 2019

(Adds detail on planned spending of capex)

MEXICO CITY, March 12 (Reuters) - Mexico’s biggest retailer, Wal Mart de Mexico, said on Tuesday the company plans capital expenditure for 2019 of 20 billion pesos ($1.03 billion).

In a conference call, the company known as Walmex said that sum compared with expenditure of 17.9 billion pesos last year.

The company said 35 percent of the 2019 spending would be on existing stores, 31 percent on new stores, 20 percent on logistics and 13 percent on e-commerce and technology.

$1 = 19.3408 Mexican pesos Reporting by Daina Beth Solomon Editing by Dave Graham and Sandra Maler

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