Walmart Announces Hundreds of Millions of Dollars in Price Reductions

BENTONVILLE, Ark., Oct. 22- With a commitment to save American shoppers more than ever this holiday season, Walmart announced it will offer weekly deep savings events and new everyday low prices on thousands of items across the store, starting today through the holiday period. Each week, Walmart will announce new pricing reductions, beginning with select items in groceries and entertainment.

"Many of these prices represent the lowest we've offered in years, because we know these are tough times for American families," said Eduardo Castro-Wright, vice chairman, Wal-Mart Stores, Inc. "We made a purposeful decision to focus initially on everyday staples as well as items that often require larger spending commitments in preparation for Thanksgiving and Christmas."

Recently, 75 percent of Walmart customers said they agreed it was important this year to find more affordable ways for making the upcoming holiday season successful, with many customers saying they even plan to cut down on the amount spent on individuals on their gifting lists(1). Walmart's commitment aims to put holiday savings in every home. For example, starting this week Walmart stores nationwide and Walmart.com (www.walmart.com)(2) will lower prices(3) on select frequently purchased groceries and popular toys, including:

-- Rolls of 73% lean ground beef - $1.25 per pound (26% savings)
-- Bananas - $0.39 per pound (27% savings)
-- Spring Valley 500 mg chewable vitamin C (60 count) - $2 (60% savings)
-- Bakugan traps - $5 (36% savings)
-- Select board games, kids activity kits and Hot Wheels sets -- $15 (17%
to 25% savings)

-- Ripstick - $49 (27% savings)



"America is depending on Walmart to make the holidays affordable and we are responding with a selection of stunning price reductions," said John Fleming, Walmart U.S. chief merchandising officer. "We sell items for every holiday purchase occasion, so we're perfectly positioned to help -- from quality food for holiday meals, to preparing the home for guests, to the toys under the tree."

These price cuts will only increase the savings that Walmart grocery shoppers experience each and every week. According to recent price audits, Walmart's prices for frequently purchased grocery items averaged at least 14 percent less than the leading national supermarkets on the same items(4).

Because of the operational improvements Walmart has made through its remodeling program of stores across the U.S. and faster service at checkout, customer satisfaction scores are at an all-time high.

"We're excited about the season because the shopping experience in our stores is better than ever," said Bill Simon, Walmart U.S. chief operating officer.