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BENTONVILLE, AR-Wal-Mart Stores may have cut its capital expenditures by more than 20% this quarter, but expansion continues internationally, executives said at the company’s first quarter conference call.

First quarter capital expenditures were $2.4 billion, down 22% from last year. Current plans call for expenditures of between $13.5 billion and $15.2 billion. But other expansion is continuing on several continents.

“Brazil is an example of a market starting to hit its stride,” said Michael T. Duke, vice chairman of the International Division. “[In India], we believe there is significant, untapped demand for market retail. And over the last quarter we’ve taken steps to explore Russia and neighboring countries in Eastern Europe.”

Net sales for the quarter were approximately $94.1 billion, up 10.2% over for the first quarter of fiscal year 2008. Net income for the quarter was $3.02 billion, an increase of 6.9% from the year-ago quarter. Comp-store sales rose 2.9%. Results for 2009 include one extra day due to the leap year day on Feb. 29.

Wal-Mart Stores, Inc. operates Wal-Mart discount stores, supercenters, Neighborhood Markets and Sam’s Club locations in the United States, and under various banners in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico and the United Kingdom.

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