Wal-Mart has announced that it is reducing the number of its supercenters to be opened this year by 30%. This is the company's second cutback in the last year. According to reports, Wal-Mart will open about 200 stores rather than 270 stores, as previously planned.
Wal-Mart's sale gains during 2006 fell to their lowest levels in many years. Wal-Mart's executives have apparently revised earlier policies of opening a new store almost daily and are choosing to invest in existing stores. These efforts will include renovations, and improvements in the areas of merchandise and store operations.
Wal-Mart remains America's dominant retailer with earnings reaching $11.28 billion and sales amounting to $345 billion in 2006 .