Wal-Mart Stores Inc cut prices on small appliances including microwaves and coffee makers on Friday, the latest in a series of mark-downs aimed at luring customers during the vital holiday shopping period.
The world's biggest retailer, which had previously lowered prices on key toys and electronics, said the discounts were taken on almost 50 small appliances from brands including GE, Hoover and Sharp.
The moves come as Wal-Mart looks for ways to reinvigorate growth after back-to-back months of disappointing sales. Remodelling projects disrupted hundreds of its US stores, and a new line of trendier clothing sold poorly.
Wal-Mart executives told analysts last month that they were not satisfied with the recent sales performance, but remained confident that aggressive price cuts would revive growth during the November-December holiday season, the biggest shopping period of the year.
The latest mark-downs included a Mr Coffee 12-cup programmable coffee maker for $37.88, down from $42.48, and a Sharp .08 cubic foot microwave reduced to $49.88 from $54.88.
Wal-Mart had previously lowered prices on products ranging from plasma televisions to board games, raising concerns of a price war and pressuring shares of rival retailers. The retailer said it would continue to roll back prices this holiday season, and listed toys, electronics and apparel as the key categories.
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