By Tess Stynes
Wal-Mart Stores Inc. (WMT) said it plans to start matching
holiday deals from its rivals Friday, a week ahead of the shopping
frenzy known as Black Friday, further extending its opportunities
to draw consumers to its store and website.
The world's largest retailer said it will cut prices on some
popular toys and electronics to match Black Friday deals offered by
competitors such as Target Corp. (TGT), Best Buy Co. Inc. (BBY) and
Toys "R" Us Inc.
"Black Friday is our Super Bowl and we plan to win," said Duncan
Mac Naughton, chief merchandising and marketing officer for
Wal-Mart in the U.S. "With six fewer days from Thanksgiving to
Christmas, the retail environment is more competitive than
ever."
The retailer has pushed its Black Friday sales earlier, stirring
a backlash among some workers. This year, sales will start at 6
p.m. on Thanksgiving Day, two hours earlier than last year. A
series of other retailers also have announced plans to open their
doors on Thanksgiving Day, aiming to attract shoppers during what
analysts are expecting to be a highly promotional holiday-shopping
season.
Starting at 8 a.m. on Tuesday, shoppers who purchase items on
Wal-Mart's website and find a lower price offered by a rival's
local brick-and-mortar store will be eligible to receive the
difference on a gift card under an extended Christmas advertising
match program. The policy also applies to shoppers at Wal-Mart
stores for items purchased between Nov. 1 and Dec. 24, with the
exception of Thanksgiving Day and Black Friday.
Shares were trading at $79 recently, down 22 cents.
Write to Tess Stynes at tess.stynes@wsj.com
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