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Wal-Mart Announces Disciplined Store Expansion

NEW YORK (AP) - Wal-Mart Stores says that it plans to spend anywhere from $11.8 billion to $12.8 billion in capital expenditures for fiscal 2015. That's $200 million lower than the revised projection for the fiscal year.

The world's largest retailer says that for the first time it's accelerating its expansion of smaller stores at a faster pace than its supercenters in the U.S. Overseas, it's closing some stores in China and Brazil as it aims make those markets more profitable. The company, based in Bentonville, Ark., says it expects overall net sales to be up 3 to 5 percent for fiscal 2015.

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