Walmart will open its biggest store in the Mexican capital of Mexico City, the retailer said Thursday, adding that the store will be called Walmart World Headquarters.
The move will allow Walmart to expand its U.S. footprint beyond its own home market and into new markets where it has struggled.
Walmart’s Mexican operation opened its first store in 2006 and has since opened stores in Los Angeles, Seattle, San Diego, Phoenix, Houston and Austin.
The company also announced it is buying a stake in a retail company in Argentina called Jelco that has been in operation since the 1990s and will focus on U.K.-based stores.
The new store will also have about 1,000 employees and is expected to open this year, Walmart said.
The company is still negotiating the terms of the transaction with the Argentine government.
The announcement comes as U.N. officials said they would examine whether Walmart has complied with the terms for opening a second U.F.O. outpost in the U.G.C.R. , the Convention on the Biological Diversity, has long called for multinational corporations to adhere to the Convention’s standards for the protection of biodiversity.