Walmart Planning To Slash Grocery Prices

03.22.10 | FL News Team

Walmart is planning to slash grocery prices on ten-thousand items beginning next week. The world's biggest retailer is offering the lower prices to attract more customers while going head-to-head with Safeway, Kroger and other big grocery chains. The discounted prices take effect April 1st and will be accompanied by a major advertising campaign.

 Since the recession began, grocers have been aggressively cutting prices to lure shoppers, but Walmart's recent sales have been hurt by the economic downturn. Rising gasoline prices are also blamed for slower sales at rural Walmart stores, where customers have to commute longer distances to shop.