MISSISSAUGA, ON, Nov. 1 /CNW/ - Wal-Mart Canada Corp. today announced
that beginning immediately it will sell all books, magazines, greeting cards
and gift wrap at U.S. list prices, building on its yearlong record price
reductions, supported in part by a stronger Canadian dollar.
While the company already sells books, cards and magazines at discounts
ranging from 10 per cent to 25 per cent off Canadian list prices, its
dedication to having the absolute lowest prices and a willingness to reduce
its own margins has led Wal-Mart to drop prices even further. In many cases
the new pricing has not been supported by cost concessions. However, Wal-Mart
Canada continues to negotiate with all supplier companies in light of the
stronger Canadian dollar and new consumer expectations.
In all 293 outlets nationwide, signs now notify Wal-Mart customers that
books, magazines, greeting cards and gift wrap will be sold for the U.S.
listed price, unless the company's traditional discounts are lower. While
prices will be reduced throughout the category, Canadian and U.S. list-price
differences include the following examples:
Oprah magazine: Canadian $5.75; U.S. $4.50
Cosmopolitan magazine: Canadian $5.49; U.S. $4.29
HRH by Danielle Steel: Canadian $10.99; U.S. $7.99
World Without End by Ken Follett: Canadian $42.00; U.S. $35.00
Love In The Time of Cholera by Gabriel Garcia Marquez (Oprah's pick):
Canadian $19.95; U.S. 14.95
Hallmark birthday card: Canadian $2.69; U.S. $1.99
Carlton birthday card: Canadian $3.99; U.S. $2.99
"Wal-Mart strives to be the agent for the customer, and we are committed
to helping people save money so they can live better," said Mario Pilozzi,
President and CEO, Wal-Mart Canada Corp. "This has been our best year ever for
price reductions, but we're not done yet. When a customer can literally see a
difference between U.S. and Canadian pricing right on the cover of a book,
magazine or greeting card, we shouldn't be surprised when they ask 'why?' In
this case, rather than offering a long explanation about the various factors
that lead to price differences, we're simply saying 'pay the lower price.'"
Books, magazines, greeting card and gift wrap prices represent Wal-Mart
Canada's most recent reductions, as it concludes its best year ever for price
reductions. The company also:
- Continued price negotiations - which it began in August 2006 - with
- Announced reduced prices on all new-release video games and many
- Reduced prices on hundreds of music titles.
- Reduced prices on hundreds of household staples.
- Initiated deep and early Rollbacks on many of this year's highest-
- Announced plans for a 40-per cent increase in weekly Rollbacks
leading into the holidays.
"Each week this year, we rolled back prices on an average of 5,000 items
in our stores," said Pilozzi. "Leading into the holidays that number will
climb to 7,000 or more, because we know Canadians will be looking for ways to
save money during this busy shopping period."
"Also, with the strength of the loonie leading some Canadians to consider
U.S. shopping alternatives, we're creating a more compelling case for
customers to shop and save with Wal-Mart Canada."
Founded in 1994 and based in Mississauga, Ontario, Wal-Mart Canada serves
more than one million Canadians each day at its 293 outlets. In its first
decade of operation, analysts estimated that Wal-Mart helped lower the cost of
living for Canadian customers by four to 10 per cent.
For further information:
For further information: Kevin Groh, Director, Corporate Affairs,
Wal-Mart Canada, (905) 821-2111 x. 8012