Walmart unveils holiday toy discount program; to sell Apple’s iPad
Bentonville, Ark. Walmart said Tuesday it is discounting an array of toys, from Iron Man to Barbie, well ahead of the holiday season, offering $5, $10 and $15 savings on the year’s “must-have” toys.
Wal-Mart did not say how many toys it is discounting, In a statement, the company conducted focus groups throughout the year to ensure that the company has the right toys in stock and offered at discounts.
Throughout the season, Walmart will introduce new weekly rollbacks that will be featured in a dedicated aisle in stores to help customers easily find the best savings on toys. The retailer will also match any advertised price for the same product.
Spending on toys is expected to rise 2% this year falling 1% to $21.47 billion last year, according to The NPD Group.
In other news, Walmart will start selling Apple’s iPad in some stores by Friday and in a majority of locations by the height of the holiday shopping season. The chain will sell the iPad at Apple’s suggested retail price, which range from $499 to $829 depending on the model. It will be available online but must be picked up at stores.
Target began selling the iPad earlier this month and Best Buy Co. has carried the computer tablet since it came out in April.
Syms loss widens in Q2 with impact of Filene’s acquisition
Secaucus, N.J. Syms Corp. reported late Thursday that it lost $10.9 million in the quarter ended Aug. 28, compared with a loss of $7.9 million in the year-ago period. The widened loss is mostly attributable to one-time charges related to Syms’ acquisition of Filene’s Basement in second quarter 2009, according to the company.
Revenues for the quarter surged 34% to $102.1 million, from $76.4 million in the prior-year quarter, reflecting the impact of Filene’s Basement.
Same-store sales increased 16% for the quarter.
Kindle arrives at Staples
FRAMINGHAM, Mass. Staples announced that the Kindle e-reader is available in all stores nationwide beginning Oct. 10.
“Kindle is just one example of a host of hot tech items customers can get at Staples this holiday season,” said Jevin Eagle, EVP merchandising and marketing at Staples. “From our hands-on displays to our knowledgeable associates, Staples makes buying technology easy any time of year.”
Staples now carries the following new Kindle devices:
* Kindle ($139.00) – Wi-Fi, 6″ diagonal * Kindle 3G ($189.00) – Free 3G + Wi-Fi, 6″ diagonal * Kindle DX ($379.00) – Free 3G, 9.7″ diagonal (available at Staples mid-November)