Wal-Mart cuts prices after dreary Thanksgiving

Wal-Mart announced plans to cut prices during the Christmas season, following a disappointing Thanksgiving weekend.

A dismal sales performance during the all-important weekend forced the retail giant to lower its 2-4 per cent sales growth estimate for Q4 to 1-3 per cent.

Analysts blamed its lack of usual promotions and discounts. Other US retailers, that were more aggressive with pricing, reported better sales.

Spokesperson for the company Sharon Weber said: "We have learned from this and will move quickly to respond to our customers."

Bentonville (AK)