Wal-Mart increases spend in minority-owned companies

Bentonville, Ark. Wal-Mart Stores said Thursday that it expanded its business with minority- and women-owned companies by more than 25% in 2008, totaling $8.1 billon.

Wal-Mart's direct spend with minority- and women-owned businesses was more than $6 billion. The company’s second-tier investment, or spending on suppliers that subcontract with Wal-Mart’s prime suppliers, was more than $2 billion.

Wal-Mart's spend numbers are verified by CVM Solutions, a third-party enterprise supplier-management company.

Wal-Mart began its supplier-diversity program in 1994.