Wal-Mart Plans To Slow Down Expansion In US

Wal-Mart Stores Inc. said it will not close stores but will open new locations at a slower pace in fiscal year 2018. During its latest investor meeting, the retailer announced plans to build 35 new supercenters and 20 Neighborhood Markets, compared with 69 supercenters and 161 Neighborhood Markets in 2015. Also, the company announced its fiscal year 2017 capital expenditure for Walmart US will be $6.4 billion, compared with $6.8 billion in the previous year. For fiscal 2018, capex drops further to $6.1 billion, the company said. As Wal-Mart battles with Amazon for market share, the company will rely more on same-store sales and growth in e-commerce, technology, and other areas.