Due to the holiday shopping season being one of the shortest in years, discount retail behemoth Wal-Mart Stores (WMT
Normally, holiday shopping begins on “Black Friday,” the Friday following Thanksgiving; however, this year, Thanksgiving does not occur until November 28, meaning Black Friday would not be until November 29, leaving just over three weeks for companies to benefit from the holiday shopping season. WMT is attempting to get a head start on other retailers that will be not having holiday sales until later. According to CNBC, analysts are anticipating that this holiday season will be one of the most heavily discounted shopping seasons in years, as consumers face spending pressures.
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In addition to Walmart’s deep discounts starting today, the retailer is also offering free shipping on 99% of its online items that are more than $50. As “Cyber Monday” usually follows Black Friday, when people return to work and make their online purchases, Walmart’s shipping move can be seen as getting a head start on Cyber Monday, as well.
WMT stocks were down a fraction in pre-market trading. YTD, the company’s stock is up nearly 11%.
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