Bentonville, Ark., Wal-Mart Stores Inc. said Tuesday it will cut prices on thousands of items to lure shoppers struggling with the weak economy.
“We all know economic times are tough so our plan is to help with added savings throughout the year, focusing especially on what people want, when they need it," said John Fleming, chief merchandising officer, Wal-Mart.
The retailer will reduce prices by 10% to 30% on a range of products, particularly Super Bowl snacks, groceries, fitness items and home products. The company said it will offer no interest for 18 months on purchases of $250 or more with a Wal-Mart credit card.
In addition, Wal-Mart plans to include a $100 gift card with the purchase of a $1,296 Phillips 42-in. LCD HDTV.
The company said the latest price cuts will be detailed in its latest home circular.