Retail expansion.

Wal-Mart de Mexico is considering opening stores in 200 cities and towns across Mexico, the company's new chief executive told Reuters.

Eduardo Solorzano, who took the reins of Walmex in February, said Wal-Mart plans to spend more than US$700 million on new stores and remodeling. His priority is to "continue profitable growth with an emphasis on expansion, on promoting efficiency by streamlining operations and on tailoring individual stores to local consumers," Reuters reported.

Walmex already is Mexico's largest private employer, boasting nearly 700 stores and restaurants. Last year, the retail giant had record sales of US$12.5 billion, more than three times the total sales of its nearest rival, according to Reuters.

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Solorzano said in the interview that there would be "no change to Wal-Mart's core business approach in Mexico."

But with success has come criticism.

Opposition to the stores has grown and critics say its cheap foreign imports hurt local businesses and ruin the traditional mom-and-pop stores that underpin many Mexican communities, Reuters reported.

In response to this, Solorzano said Walmex intends to develop home-grown suppliers among small and medium-sized Mexican companies.