October 01, 2007
NEW YORK – Giant retailer Wal-Mart has announced cuts in toy prices ranging between 10 and 50%, the Wall Street Journal reported today.
Analysts say the move marks the first salvo in ever-earlier price reductions by retailers looking to snag holiday shoppers. Such cuts are sure to put pressure on rival stores and may signal concern about upcoming consumer spending.
Wal-Mart said in a statement that further cuts would be announced in coming weeks.
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