Wal-Mart's U.S. chief sees smaller stores
NEW YORK (Reuters) - Eduardo Castro-Wright, head of Wal-Mart's U.S. operations, said the retailer is looking to improve its returns by building fewer stores and stores that are smaller.
He made the comments at the retailers analyst meeting, which was broadcast over the Internet.
In June, Wal-Mart said it expected to open 190 to 200 supercenters this fiscal year, down from its previous plan of 265 to 270. Next fiscal year, the company said at the time that it would open 170 supercenters.
But Castro-Wright said that 170 figure will likely be "less than that in the future years."
"We're also looking at improving returns by building less stores and smaller stores," he said.
