Wal-mart (WMT) Plans Lower Spending for Canadian Expansion in 2015

Wal-mart (NYSE: WMT) is planning to make an investment of about C$340 million to expand its presence in Canada.

Notably, the amount is lower than what Wal-mart planned to spend on Canadian expansion in 2014, which came in at about C$500 million.

About C$230 million of the planned investment will be used to complete 29 supercenters and the company also plans to expand its distribution network.

News for Wal-mart comes as peer Target (NYSE: TGT) recently moved to exit the market and Sears Holdings (Nasdaq: SHLD) cut its stake in Canadian operations.

Shares of Wal-mart are lower in early trading on Wednesday.

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