Retailer cites strong loonie and consumer expectations for $59.83 price
MISSISSAUGA, ON, Sept. 24 /CNW/ - Wal-Mart Canada Corp. is launching the
year's most-anticipated video game title, Halo 3, for $59.83, to match
anticipated U.S. pricing. At $59.83 the price is expected to be approximately
10 dollars less than the prevailing Canadian retail price.
The decision to match anticipated U.S. pricing for Halo 3 stems from a
stronger Canadian dollar and the resulting consumer expectations. While many
retailers are expected to offer short-term promotional prices on Halo 3,
Wal-Mart Canada intends to hold the price for an extended period.
"We have taken the opportunity of a higher loonie to lower prices where
we can," said Jim Thompson, Wal-Mart Canada's senior vice president of
merchandise. "We've been negotiating with suppliers for more than one year,
based on the belief that a high dollar and favourable business conditions
should translate into lower prices for our customers."
During the back-to-school time frame Wal-Mart Canada had approximately
20 per cent more items rolled back to lower prices than the same period in the
prior year. "We are currently experiencing our strongest year of price
rollbacks in our 13-year history," said Thompson.
About Wal-Mart Canada Corp.
Founded in 1994 and based in Mississauga, Ontario, Wal-Mart Canada Corp.
serves more than one million Canadians each day at its 270 discount stores, 17
Supercentres and six Sam's Club membership operations. With more than 70,000
associates, the company is one of Canada's largest employers and has
repeatedly been listed among the 50 Best Companies to Work for in Canada, as
published in Report on Business Magazine.
For further information:
For further information: Kevin Groh, Director of Corporate Affairs,
Wal-Mart Canada, (905) 821-2111 x8012