Wal-Mart 'comfortable' with fiscal year capex goal
NEW YORK (Reuters) - The treasurer of Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research) said on Thursday the retailer is "very confident" and "very comfortable" it can stay within its current fiscal year capital expenditure plan of $13.5 billion to $15.2 billion.
In October, Wal-Mart said its capital spending would likely fall this year as it scaled back planned supercenters to try to improve results at its existing stores.
Charles Holley, Wal-Mart's treasurer, made the comments at the company's international analyst field trip being held in Brazil. His comments were broadcast over the Internet.
Separately, he said the retailer expects to acquire the remaining shares of Seiyu Ltd 8268.T, its Japanese supermarket subsidiary, by the end of its fiscal second quarter. Last year, Wal-Mart announced plans to buy out minority shareholders of the unit.
(Reporting by Nicole Maestri; Editing by Andre Grenon)
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