Thursday, Aug 25, 2016
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Retail

Wal-Mart prices beat Target, Kmart in study

Wal-Mart Stores Inc., the world’s largest retailer, had lower pricing than two smaller discount rivals during the back-to-school shopping season, according to a Bloomberg analysis.

Wal-Mart beat Target Corp.’s prices by 7.2 percent on a basket of 34 products in mid-August, wider than the 6.6 percent gap in July, Bloomberg Industries analysts said Thursday.

Wal-Mart beat Sears Holdings Corp.’s Kmart chain by 32 percent on a group of 43 items.

Wal-Mart has restored thousands of items to shelves and said it’s committed to widening its price gap with other merchants to win customers concerned their jobs may not be secure. Target is expanding grocery sections and offering discounts with reward cards to lure shoppers.

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