Wal-Mart Cuts Prices on Holiday Items Ahead of Season
October 1, 2008 - 10:42 AMWal-Mart Stores Inc., the world's largest retailer, said Wednesday it will lower the price of several toys in 3,500 stores across the U.S. ahead of a holiday season which is expected to be subdued.
Retailers across the board are expecting consumers to rein in spending this season, amid rising food and gas prices, turmoil in the financial markets and a prolonged housing slump.
Wal-Mart said it will cut prices on 10 popular toys to $10 each, including certain Barbie Dolls, Play-Doh Ice Cream Shop, some Hot Wheels toys and Bakugan by Spin Master, a game many experts cite as one of the "hot" toys this year.
It will also open Christmas shops within its stores over the next 10 days, which will offer deals such as an ornament value pack for $5.
Wal-Mart said it conducted a survey that showed consumers will start Christmas shopping earlier this year and make other changes to stretch holiday dollars.
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