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Wal-Mart to expand discounts as retail price war heats up
Wal-Mart to expand discounts as retail price war heats up

(Reuters) - Wal-Mart Stores Inc said it will expand its offering of discounted products during the holiday season and may broaden a price-matching scheme to include online rivals, in the latest sign of an escalating price war among big U.S. retailers. Wal-Mart said it was bracing for competition to be as tough or tougher than in 2013, when heavy discounting depressed earnings across the industry. Wal-Mart's profits dropped in the holiday quarter last year and it has posted six straight quarters of flat or declining same-store sales. "It is starting to heat up right now, and I would expect it to be at least as competitive as last year," Steve Bratspies, executive vice...

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