Wal-Mart prices lower than Target's, Kmart's during back-to-school season, finds shopping review; basket of items cost 7.2% more at Target, 32% more at Kmart
August 19, 2011
– Wal-Mart Stores Inc. prices were lower than Target Corp.’s and Kmart’s during back-to-school season, a review by Bloomberg Industries found, Bloomberg reported Aug. 18.
In mid-August, a shopping cart of 34 products at Wal-Mart cost less than at Target by 7.2%, compared with 6.6% in July. The world’s largest retailer had lower prices than Sears Holdings Corp.’s Kmart by a difference of 32% on a basket of 43 items.
Wal-Mart, whose second-quarter U.S. sales excluding fuel at stores open at least a year dropped 0.9%, pledged to widen the gap with competitors in an effort to attract consumers under financial pressure.
The primary source of this article is Bloomberg, New York, New York, on August 18, 2011.