Facing months of slowing sales, Wal-Mart is slashing prices on thousands of products. The world’s largest retailer, Wal-Mart’s sales at U.S. stores dropped last quarter — though its profits have been solid.
From the Wall Street Journal:
The company says it believes that, despite increasing consumer optimism, many Americans will continue to struggle in the months ahead. So, it is cutting prices this week on roughly 10,000 items, mostly food and other staples. The company declined to specify the sizes of the cuts.
Expect to see a media campaign touting the company’s moves and a bunch of placards to be placed in the aisles of thousands of its U.S. stores.
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