Wal-Mart pretty much stunned investors with their latest earnings forecast, and not in a good way. The mega retailer’s stock plummeted 10% and its shares prices are down by 29% for the year. Yikes. What does this all mean?
A “price war” could be happening in the very near future. By the time the holidays roll around, perhaps sooner, Wal-Mart may be going head-to-head with the Internet’s biggest retailer, Amazon. A bunch of experts believe Amazon could be to blame for Wal-Mart’s latest plummet.
NBC’s Tom Costello says to expect more sales, serious price cuts and bargain deals. Basically, Wal-Mart is going to try anything to get customers to spend their money there rather than Amazon. This means your Black Friday deals just got even better…if that’s at all possible.
You might want to hold off on your holiday shopping because prices are expected to drop even further. Watch the video below for more info.