According to the Wednesday, June 18 edition of The Wall Street Journal, Wal-Mart announced it will be scaling back the number of stores it opens in the next few years, chopping more than a billion dollars in capital expenditures in 2009 alone.
The Journal also notes the following:
Critics have questioned the benefit of Wal-Mart supercenters on local communities, particularly small towns with mom-and-pop stores that are often forced out of business when a Wal-Mart store opens in the area.
Plans for Kroger, a local company that keeps jobs and money in the Greater Cincinnati area (unlike Wal-Mart), include a new Marketplace center that would fulfill any perceived need for access to a wider range of goods. We can only hope that Wal-Mart decides to take the retail fight elsewhere.