An unidentified source with Wal-Mart cited by Reuters said that the company would enter Peru within the year; however, Wal-Mart refuted such claims.
"Wal-Mart is entering Peru this year," the source told Reuters. "It is coming no matter what, before the end of the year, maybe in October."
"If you ask me if the store will be ready this year - well, no - because you have to start construction," the source said.
Kevin Gardner, Wal-Mart spokesman said the company was only going to run a quality assurance program in Peru to procure products. He said the company has no plans to have retail operations in the market.
Peruvian newspaper, Gestion, reported that the company has registered its name with a government agency and hired a general manager.
Wal-Mart's Peruvian debut would likely heat up competition in the growing market, as the country’s retail sector has long been dominated by Chilean companies.
Wal-Mart Report
