SAN FRANCISCO -- Wal-Mart Stores Inc said on Thursday it expects sales to grow 1 to 2 percent in the current fiscal year and 4 to 6 percent next year, with square footage up 4 percent in both years.
Tom Schoewe, chief financial officer of the world's largest retailer, gave the forecast on the second day of Wal-Mart's analyst meeting.
On Wednesday Wal-Mart outlined plans to slash prices every week until Christmas to fend off rivals and keep newly won market share gains.
Wal-Mart also said it expects capital expenditures of $12.5 billion to $13.1 billion in the current fiscal year, which ends in January 2010, and $13 billion to $15 billion for the next fiscal year.
Wal-Mart shares were down 7 cents, or 0.1 percent, at $50.56 on the New York Stock Exchange in afternoon trade.
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