Wal-Mart Cuts Prices to Boost Holiday Sales

Second big cut as store tries to woo back low-income shoppers
By Nick McMaster,  Newser Staff
Posted Oct 18, 2007 2:00 PM CDT
A Wal-Mart semi-truck heads down a highway Monday, March 20, 2006, in Salt Lake City. Wal-Mart Stores Inc., the world's largest retailer, on Thursday, Oct. 11, 2007 increased its third-quarter earnings...   (Associated Press)
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(Newser) – Wal-Mart is slashing prices on 15,000 more items this week in an effort to capture sales during the holiday shopping season, Reuters reported today. The nation's largest retailer reduced prices two weeks ago on popular toys, and has now discounted 20% more items than in the previous holiday season. New discounts go beyond the toy department to home and apparel items.

Wal-Mart is aggressively using the holiday season to try to take back shoppers either claimed by low-cost internet retail or alienated after the store attempted to sell more upscale products, a move that backfired with its lowest-price-possible core constituency. Today's cuts might not be the end, either—Wal-Mart says further savings are on the horizon.