NEW YORK -- Wal-Mart Stores Inc., the world's largest retailer, said Tuesday it will cut prices on thousands of items to lure shoppers struggling with the weak economy.
The retailer said it will roll back prices by 10% to 30% on a range of products, particularly Super Bowl snacks, fitness items and home products. The store said it will offer no interest for 18 months on purchases of $250 or more with a Wal-Mart credit card.
The store also said it would include a $100 gift card with the purchase of a $1,296 Phillips 42-inch LCD HDTV.
The company said the latest price cuts will be detailed in its latest home circular.
Supply-side tax cuts and stimulus packages will always be more effective than demand side wealth re-distribution. Without the supply-side price cut from Wal-Mart, the refund checks would be inflationary. Simple economics.
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