Philippines News.Net Thursday 9th October, 2008 In the US, major retailer, Wal-Mart, has announced cuts over most of its Christmas range. Expecting a weak holiday shopping season, the company said it would reduce prices throughout its 3,500 stores across the country. Wal-Mart said the decision to make radical cuts had been made after a survey showed consumers would start Christmas shopping earlier this year in hopes of stretching Christmas spending.
Many retailers in the US have recently been stung by poor spending due to rising food and energy prices, the housing slump and a generally weak economic climate.