Wal-Mart: Sales growth will slow for next 3 years

BENTONVILLE, Arkansas (AP) - Wal-Mart Stores Inc. will cut back on spending to build new stores and tighten cost controls as sales growth slows over the next three years, Chief Financial Officer Tom Schoewe told investors and analysts at a conference Tuesday. 

Schoewe trimmed plans for the world's largest retailer's capital expenditures for the second time this year, to about $15 billion (euro10.52 billion) from a June forecast of $15.5 billion (euro10.8 billion).