Walmart

The retailer plans to open 205 new stores in Mexico this year.

The down economy continues to hit consumers, business and the stock market hard, as even Wal-Mart's value on Wall Street drops.

Company officials admitted the competition was too great-competition from its own supercenter, that is.

"Because we touch communities throughout the Americas, we can help people in times of need in so many ways," said Craig Herkert, president and ceo of the Americas for Wal-Mart Stores, Inc.

The mega-retailer said it is making good on pledges to extend associate-friendly benefits and programs.

The global giant's Japan unit may be struggling, but it said plans are still on for expansion after this reduction.

The initiative could reduce energy consumption by approximately 678,000 barrels of oil per year, the retailer said.

The mega-retailer plans to open its small-scale format stores in Arizona less than one year after Britain's Tesco entered the U.S. southwest.