Saturday, November 4, 2006
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Gwinnett Daily Post
NEW YORK - First, toys, now electronics.
Wal-Mart, which began discounting its holiday toys in mid-October, announced on Friday deep price cuts on almost 100 electronics, setting the stage for price wars in advance of the holiday season. The discounting move, which focuses on high definition TVs, cellphones and digital cameras, came a day after the world's largest retailer announced disappointing October sales and a lackluster November outlook. The discounts, or what Wal-Mart Stores Inc. counts as rollbacks, are effective through Dec. 31. They include such items as Panasonic 42-inch HD plasma TVs, slashed to $1,294 from $1,794; the Polaroid LCD HDTVs, reduced to $997, from $1,297; and Cingular C139 prepaid phones, marked down to $19.97 from $29.98. In a release Thursday, Wal-Mart said it planned to ''reinforce Wal-Mart's price leadership position'' in such areas as toys and electronics. Wal-Mart said that its move to cut prices on more than 100 holiday toys is already resulting in a ''significant lift in unit volume.'' - From wire reportsMore like this story
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