Wall-Mart goes to Brazil full speed

AO PAULO -- Wal-Mart Stores, the world's largest retailer, will invest up to 2.2 billion reais (US$1.2-billion) in Brazil next year, the largest-ever expansion plan by the company in Latin America's biggest economy, a top executive said on Monday.

Wal-Mart, which ranks third among Brazil's largest retail chains, plans to open between 100 and 110 stores in 2010, Hector Nunez, who heads the domestic operations for the company, told reporters in Sao Paulo.

The company's investment plan is 40% bigger than this year's 1.6 billion reais, and is the largest since Wal-Mart entered Brazil 14 years ago, he added.

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