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Wal-Mart tells investors focus is on growth.

Mike Duke, CEO of Wal-Mart Stores Inc., opened the 16th annual meeting for the investment community last week with the proclamation that the world's largest retailer has three priorities: growth, leverage and returns.

"We have aggressive growth plans," Duke said of the first priority. "No one can deliver the growth that Wal-Mart can in the next few years. We have considerable opportunities to expand, especially in metro areas and we will introduce new concepts."

Duke did not expand on the growth model or put a number on Wal-Mart's expected new store construction, but later in the presentation, another executive presented a slide that indicated the company estimates it will add 11 million SF of space in fiscal year 2011. That is down from 14 million SF for 2010 and 23 million SF added in fiscal 2009.
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Title Annotation:RETAIL
Author:Sparkman, Worth
Publication:Arkansas Business
Date:Oct 26, 2009
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