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Latest Business News

Wal-Mart Plans to Trim Store Growth

Friday, June 01, 2007 5:47:20 PM
BY ANNE D'INNOCENZIO and MARCUS KABEL

Wal-Mart Stores Inc. President and Chief Executive Officer H. Lee Scott speaks during the annual Wal-Mart shareholders meeting in Fayetteville, Ark., Friday, June 1, 2007. (AP Photo/April L. Brown)FAYETTEVILLE, Ark. (AP) - Wal-Mart gave investors something on Friday they haven't seen in some time: a reason to pour some money into its shares. The world's largest retailer, under pressure by investors to improve its sales, is trimming its store growth as it balances its traditional focus on low prices with a push to be a force for change in such areas as health care and the environment.

Its shares rose almost 4 percent on the news.

Wal-Mart added that its new internal mantra is to help customers live better by saving money.


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