Wal-Mart Expected to Slash Prices on 10,000 Items

Friday, 09 Apr 2010 11:00 AM

 

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Wal-Mart Stores Inc. is cutting prices on thousands of its items in an effort to halt slowing sales in the United States, according to the Wall Street Journal.

The world's biggest retailer is cutting prices on about 10,000 items, mostly food and other staples, the WSJ reported. The company did not give details of the size of the price cuts, the newspaper said.

Wal-Mart could introduce more price cuts in coming months, with help from suppliers, Chief Marketing Officer Stephen Quinn told the WSJ.

Wal-Mart in February reported a drop in holiday sales at U.S. stores. Excluding fuel, the company forecast flat sales at stores open at least a year, within a range of up 1 percent to down 1 percent in the first three months of the year.

© 2014 Thomson/Reuters. All rights reserved.

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