Wal-Mart Boosts Spending on Remodels, Cuts Opening

Wal-Mart Stores said yesterday it plans to increase its investment in store remodelings over the next two years — with plans to remodel all U.S. stores over the next five years — while decreasing spending on new stores and reducing the number of new-store openings.

BENTONVILLE, Ark. — Wal-Mart Stores here said yesterday it plans to increase its investment in store remodelings over the next two years — with plans to remodel all U.S. stores over the next five years — while decreasing spending on new stores and reducing the number of new-store openings.

Speaking at the company’s annual analyst and investor conference here, Bill Simon, executive vice president and chief operating officer, said Wal-Mart U.S. will reduce overall capital spending this

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