MEXICO CITY Nov 12 Mexico's leading retailer
Wal-Mart de Mexico said on Monday that it had made early
payments totalling 4.3 billion pesos (US$326 million) to its
suppliers to make sure they deliver products on time for a sale
next weekend and for the Christmas season.
The company, known as Walmex, said the payments
had been made during September and October. It did not detail
any effect they might have on the company's financial results.
It usually takes between 60 and 90 days for providers in
Mexico to be paid by big retailers.
Walmex made the payments in advance of delivery to make sure
its stores are well stocked before Mexico's version of a "Black
Friday" shopping spree, scheduled for Nov. 16 to 19, and
Christmas shopping. Retailers refer to the Friday after the U.S.
Thanksgiving holiday as "Black Friday" because, as the start of
the holiday shopping season, it can bring them significant
Walmex, a unit of U.S.-based Wal-Mart Stores Inc,
said it planned to buy 85 billion pesos ($6.4 billion) worth of
merchandise in Mexico in the fourth quarter.
Its shares ended up 0.16 percent at 38.45 pesos on Monday.