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Wal-Mart cuts spending forecast

June 18, 2008|From Times Wire Services

Wal-Mart Stores Inc. is reducing its capital spending forecast for fiscal 2009, as it slows construction of supercenters amid a weakening U.S. economic environment.

The world's largest retailer said it expected to spend $13 billion to $14 billion during the fiscal year ending Jan. 31. In October, the company said it expected to spend $13.5 billion to $15.2 billion.

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