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October 16, 2014

Wal-Mart scales back plans for U.S. stores

  • The discounter says it will open 60 to 70 supersized stores in the next fiscal year, down from 120, as customers shop more online and at small stores.
    • By ANNE D'INNOCENZIO
    AP Retail Writer

    NEW YORK — Wal-Mart Stores Inc. plans to dramatically scale back expansion of its U.S. supercenters, while investing more in e-commerce in an effort to pursue customers where they are shopping.

    The discounter told investors at its annual analysts meeting Wednesday that it plans to open 60 to 70 supersized stores during its next fiscal year, down from the planned 120 this year. It's also conducting a major review of its U.S. Wal-Mart business and will update investors on its plans early next year, executives said.


     
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