Summary Box: Wal-Mart grows by going smaller

AP News
Posted: Oct 13, 2010 5:11 PM
Summary Box: Wal-Mart grows by going smaller

SMALLER STORES: Known for its giant stores, Wal-Mart now hopes to raise revenue by opening more small and mid-size stores in the U.S., drawing more customers to Sam's Club warehouse stores and expanding internationally.

SHARPENED DISCOUNTS: To refocus on its core middle- and lower-income shoppers, Wal-Mart will discount more in its main aisles, restock items cut last year and add more classic clothing and basics like socks and underwear.

BRIGHT FORECAST: CEO Mike Duke predicted a rise in fourth-quarter revenue in U.S. stores open at least one year; the key indicator has fallen for five straight quarters.