Wal-Mart Lowers Forecast for Capital Spending |
| http://www.nytimes.com/2007/10/24/business/24walmart.html?ref=business - Oct 24, 2007 |
Wal-Mart Stores lowered its forecast yesterday for capital spending for the current year, and said it expected to spend still less money building new stores in the following two years.
The retailer, based in Bentonville, Ark., said it would shift capital away from its American stores and into overseas expansion, which will account for the bulk of its growth in the years to come. But while Wal-Mart also said it planned to step up dividends and share buybacks, some analysts said its planned spending cuts were disappointingly small.
Wal-Mart shares fell nearly 3 percent yesterday, closing at $43.93 on the New York Stock Exchange.
Read Full Article from http://www.nytimes.com/2007/10/24/business/24walmart.html?ref=business
- Posted: 2007-10-24 10:08:45
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