Wal-Mart trims sales forecast, predicts slower profit growth

It seems the nation’s largest retailer was a bit tooambitious when announcing its U.S. growth plans earlier this year. Amid sluggish sales nationwide, Wal-Mart Stores Inc. (NYSE: WMT) is scaling back new store plans.

Previously predicting growth of 3 to 5 percent next year, the Bentonville, Ark.-based company now predicts just 2 to 3 percent.

Bloomberg reports Wal-Mart told investors on Wednesday it's opening 60 to 70 Supercenters its next fiscal year, down from the expected 120 stores this year.

The company also plans to add 180 to 200 Neighborhood Markets next year, from the 170 stores slated for this year. It's also reducing its expansion growth of its smaller Wal-Mart Express stores.

The retailer does plan to invest $1.2 billion to $1.5 billion in e-commerce and digital projects.

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