Wal-Mart to Trim Growth, Increase Store Remodeling Efforts

New York City Wal-Mart Stores’ U.S. namesake division plans to cut new store growth over fiscal 2009 and 2010 while increasing its capital spending for store remodels, MarketWatch reported.

Capital spending for Wal-Mart U.S. is expected to decline to $5.8 billion to $6.4 billion for fiscal 2009 from $9.1 billion last year, Eduardo Castro-Wright, head of Wal-Mart Stores US, said at the company's investor and analyst meeting. For fiscal 2010, capital spending is pegged at $6.3 billion to $6.8 billion.