Wal-Mart Plans More Stores in U.S., Abroad
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Wal-Mart Stores Inc. said Tuesday that it will open about 185 U.S. stores in the fiscal year beginning Feb. 1.
The Bentonville, Ark.-based discount retailer said there will be 120 to 125 so-called super centers, 50 discount stores and about 10 Sam’s Club stores. The retailer now has 2,771 stores. About 90 of the super centers will be existing discount stores that have been expanded and in some cases moved.
A super center is a traditional discount Wal-Mart store combined with a grocery store. Sam’s Club sells in bulk to members such as small businesses.
“Wal-Mart is looking for cross-shopping opportunities that provide additional opportunities for profit with its super centers,” said John Hughes, a Dain Bosworth Inc. analyst.
Wal-Mart also plans 50 to 60 new stores in Argentina, Brazil, Canada, China, Indonesia, Mexico and Puerto Rico.
To support the growth, the retailer said it also plans to open one general merchandise and two food distribution centers in the next fiscal year. The company did not name sites for the distribution centers.
Wal-Mart shares closed down 31 cents at $36.56 on the New York Stock Exchange.
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