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Wal-Mart Continues to Look Outside of US

BENTONVILLE, AR-Meanwhile, same-store sales nearly rise 3% during the first quarter, as the discounter fares well in a tough economy.

By Debra Hazel | Updated on May 14, 2008

BENTONVILLE, AR-Wal-Mart Stores may have cut its capital expenditures by more than 20% this quarter, but expansion continues internationally, executives said at the company’s first quarter conference call.

First quarter capital expenditures were $2.4 billion, down 22% from last year. Current plans call for expenditures of between $13.5 billion and $15.2 billion. But other expansion is continuing on several continents.

“Brazil is an example of a market starting to hit its stride,” said Michael T. Duke, vice chairman of the International Division. “[In India], we believe there is significant, untapped demand for market retail. And over the last quarter we’ve taken steps to explore Russia and neighboring countries in Eastern Europe.”

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