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NEW YORK (AP) -- Wal-Mart is counting on $1 ketchup bottles and sub-$4 cases of Coke to get its low-price mojo back.
The sharp cuts at its U.S. Walmart stores, which came ahead of Memorial Day weekend, have already pushed rivals such as Target into price wars. And the markdowns are expected to keep coming throughout the summer.
They're one of the boldest moves the world's largest retailer is making to turn around sluggish business at its U.S. namesake chain and win back shoppers from rivals. The cuts aren't across the store but target 22 foods and other essentials at an average savings of 30 percent -- splashy enough to get attention and perhaps change perceptions.
The world's largest retailer is also restoring items like certain soups and laundry detergent it stopped carrying when it tried to declutter its stores. It's also pushing more basic clothing such as socks and underwear after putting too much focus on trendy items that didn't sell.
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It sure is. And it will be nice to see the range being expanded again too. I was in Walmart looking for a Glade air freshener that I always pick up in the dollar store usually and they didn't have any. I'm so used to getting that I didn't buy an alternative brand, which is probably what they expected to happen. I'm a walking example of why they cut too many brands too fast. Glade's not exactly obscure.
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They can all fight it out for as long as they like! :) Great news.
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Many people have this perception that Wal-mart's always the cheapest no matter what you want to buy. Years ago that was true but not now. Dollar stores pop up everywhere and they weren't around so much when that seed was planted about not being able to beat Wal-mart prices. When the Wal-mart stores moved in, it was the mom and pop stores that were moving out and they're always more expensive.
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Going by news from their shareholders' meeting, they aim to get that reputation back, pennywise.
In setting out his vision for the next several years at the world's largest retailer, Duke, who is in his second year at the helm, said the company needs to widen its price gap with competitors as the Internet helps consumers find bargains.
"We will win on price leadership and we will win big," Duke told 16,000 cheering employees and shareholders assembled at the University of Arkansas' basketball arena for the annual meeting, which doubles as a star-studded pep rally.
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Sounds good, cheapncheerful. If they win then so do we. I think they did themselves harm when they did away with all those brands at once. If they had staggered it, it may not have been as bad.
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Huh - over $4 for Milk that cost $1.77 at kroger?
You're joking. It's that cheap there? Wow! I use a lot of milk and get it at Wal-mart or Dollar General. DG's about the same price as Wal-mart. Is that a special deal or something or do they always have it at that price? I've never seen milk that low.
There's some things I've got at the dollar store because they were cheaper than Walmart. Good to see them getting back to their roots! That's good for all of us.
The best way for a person to have happy thoughts is to count his blessings and not his cash. ~Author Unknown