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Chedraui says they plan to open 64 new stores in 2023

Mexico City, Mexico — Food store chain Chedraui says they plan to open 64 new stores in Mexico and the US. this year. Chedraui released its estimates for 2023, projecting between 7 and 8 percent growth.

With this projection, Chedraui plans to open seven Chedraui stores, three Super Chedraui and 50 “supercitos” in Mexico. In the United States, they are planning a total of four units.

Through a statement, the commercial supermarket group reported that they expect an increase of up to 16 percent in total revenue. This, due to the opening of new branches and the consolidation of the recent acquisition of Arteli .

“With these numbers, a growth of 33 percent would be achieved for the last two years,” the company detailed.

Regarding resources destined to new investments, it is valued to allocate from 2 to 8 percent of total sales. “We consider the guideline ambitious but achievable. Chedraui has been characterized for being a self-service with an efficient integration of its acquisitions at extremely attractive multiples,” they added.

For Chedraui, the expansion in 2023 will be 3.6 percent for Mexico and 1.4 percent in the United States.