Wal-Mart (WMT) feels pain of Mexican workers

Mexico is one of Wal-Mart's (NYSE: WMT) largest and most successful markets. And, Wal-Mart sales in the Southeastern US depend very heavily on the Hispanic population there. But, hard times have come to a number of workers in Mexico and the US areas along the border.

According to (subscription required) The Wall Street Journal "Wal-Mart has sought to draw Mexican and Mexican-American customers in the U.S. who send money to relatives in Mexico using the retailer's growing wire-transfer business. The relatives then have the opportunity to stock up while at their local Wal-Mart-operated store."

Many Hispanics work in the US housing market and the economy is Mexico is also slowing.

According to the Wal-Mart 10-Q, the company had 907 stories in the country at the end of the April quarter. And, the market is growing fast. Last year at the same time Wal-Mart had 789 stores in Mexico. Outside of the US, Mexico has more Wal-Mart stores than any other country.

The problem with Hispanic buying power in the region is another problem that the world's largest retailer does not need at an already rough time. At $43.40, Wal-Mart already trades near its 52-week low.

And, the news seems to get worse as each month passes.

Douglas A. McIntyre is a partner at 24/7 Wall St.