Reuters ahead on Wal-Mart’s price-slashing plans; stock falls

Reuters was 8 minutes ahead of Bloomberg on Oct. 21 in alerting the market to Wal-Marts aggressive plans to slash prices every week this Christmas season. The announcement was made during the retailer’s analyst meeting and came just days after it ignited a book price cutting war with Amazon.com. Dow Jones did not report the news until Wal-Mart put out its own press release, 25 minutes later. Wal-Marts shares fell 2 percent as investors fretted the price cuts would hurt margins. Shares of retail competitors including Amazon, Dollar Tree and Safeway also fell as the price cuts could mean they would try to match Wal-Mart`s low prices.

Market Impact

Wal-Mart`s shares fell 2 percent

Article Tags
Type: Reuters Best
Sectors: Equities
Regions: Americas
Countries: US
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