Wal-Mart: Discounts to continue in 2010
The retailer says it will extend its holiday deals and introduce more promotions next year.
By Jeanine Poggi, TheStreet
Wal-Mart's (WMT) holiday discounts won't end with Christmas. The retail behemoth announced Wednesday that it will extend the deals it unveiled at the start of the season and introduce new ones.
Starting Dec. 26, Wal-Mart will offer a $50 gift card with the purchase of a Microsoft (MSFT) Xbox 360. It also said it will take 50% off certain holiday items and toys.
Ahead of the holiday season, Wal-Mart rolled out price cuts on most of its merchandise, including toys, books and DVDs. Target (TGT), Amazon (AMZN) and Sears (SHLD) responded with similar price cuts.
Wal-Mart shares have dropped 2.7% this year, trailing the 15% advance of the S&P 500 Consumer Staples Index. It’s the third-worst performing stock in the Dow Jones Industrial Average.
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