Wal-Mart to go Aggressive
Thanksgiving and Black Friday were not as good for Wal-Mart as expected. The number 1 retailer in the United States has now indicated that they would be cutting prices before the Christmas to gain sales after opposite approach backfired.
The sales dampened as they decided to take a more balanced approach in pricing the products, which did not make the customers happy. It also resulted in cut for the sales forecast for the current month. The share prices fall on reports of poor sale.
Wal-Mart said that their prices were as low as they have been over the years but competition became more aggressive and they would be taking measures to counter anything that comes in front of them. They would be releasing the sales figures of their stores on Thursday.
The current period between the thanksgiving and Christmas is very crucial for retail buyers in general as it accounts for almost a quarter of sales throughout the year. And Wal-Mart has plans to cover-up for the lost ground.
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