Wal-Mart lowers expansion plan for smaller format stores

(Reuters) - Wal-Mart Stores (NYSE: WMT) said on Tuesday that it now plans to open 160 to 170 of its smaller format stores in the full year to January, down from a previous plan for 180 to 200 stores.

The retailer said in an earnings release that it had decided not to pursue some potential locations for the Neighborhood Markets format because they "would not provide the type of quality experience customers expect".

(Reporting by Nathan Layne Editing by W Simon)

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