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Wednesday, Jun 7, 2023

Wal-Mart to Cut Number of New Stores

Wal-Mart , which has lately seen sales in some of its categories weaken, said it will scale back the planned number of superstore openings this year to between 190 and 200. Last year, the retailer was projecting opening 265 to 270 superstores. The decision will reduce its capital expenditures by $1.5 billion in its current, 2008 fiscal year. Company executives said they are making adjustments in the real estate division through a more strategic selection of U.S. real estate sites.

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