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Retailers, consumers and prices
Check Out Line: Walmart Canada in holiday price cut mode
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Check out toy prices falling north of the border.
Walmart Canada said it is dropping the price of some popular toys to $10 (Canadian dollars that is) — a price cut of up to 67 percent in some cases – and new toys will be reduced to $10 every week between now and Christmas.
For instance, it said Transformers Universe, which is regularly priced at $29.92, is being cut to $10, as is Mega Bloks’ Builder Racer that usually sells for $24.96.
The move echoes price cuts announced by Walmart U.S. on Oct. 1 last year, when it slashed prices on popular toys — like Barbie dolls and Tonka trunks — to $10 each.
“We are starting our Christmas toy price cuts earlier than ever, across more toys than ever before,” said Jim Thompson, Walmart Canada’s senior-vice president of merchandise and operations.
He cited research that was conducted for the retailer showing many Canadians plan to buy items on sale to help them stay on budget this holiday shopping season, and many will spread the expense of their holiday shopping over a longer period of time to avoid large post-Christmas bills.
It can now only be a matter of time before Walmart U.S. rolls out its holiday toy plans.
Also in the basket:
Unilever pays 1.3 bln euros for Sara Lee brands
Walmart.com bullish on growth of Marketplace
Finish Line discontinued Man Alive leads to Q2 loss
Beauty retailers hope for flat holiday sales (WWD, subscription required)
(Photo: Reuters)
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The very fact that something can be marked down 66% only shows that the Chinese made trash could be sold with a modest profit for $10 in the first place. Wal-Mart is the singlemost killer of American manufacturing and small downtown stores. No reward for helping to put Americans out of work and not passing the full measure of savings on to our markets! I won’t buy foods from them and try not to buy anything else.
Tax policy has driven many of these jobs overseas. The U.S. is not competition with corporate taxes because liberals hate the private sector so much.