Wal-Mart tests matching prices with online rivals
NEW YORK (AP) — Wal-Mart Stores Inc. is considering matching online prices from competitors like Amazon.com, raising the stakes for the holiday shopping season.
The world's largest retailer, based in Bentonville, Arkansas, has matched prices of local store competitors but hadn't followed moves by other retailers like Best Buy or Target to match prices of online rivals. It said it has been testing the strategy in certain markets and is trying to figure out whether to go ahead.
The strategy comes as Wal-Mart is trying to rev up sluggish sales in the U.S. but it could also erode profits.
A Wal-Mart spokeswoman says many store managers have matched online prices for customers on a case-by-case basis.
The move was first reported by The Wall Street Journal on Thursday.