By  on September 6, 2019

Walmart Stores Inc. lost sales from a Chilean strike in July, is facing slowing revenues in recessionary Mexico and exited its troubled Brazilian franchise last year. But the retailer is putting a brave face on its business in Latin America, where it has no plans to dwindle its footprint and is, in fact, expanding.

“We have not said anything about Latin America slowing down or any plans to exit the market,” a Walmart insider told WWD. The company’s sale of an 80 percent stake in Walmart Brazil to Advent International in 2018 was a onetime event stemming from the nation’s deep recession — not the beginning of a gradual departure from the market, as some suggested.

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