Wal-Mart Unleashes Spring Equivalent of Black Friday
It doesn’t seem like that long ago that people were cramming into line at big box stores, elbowing middle-aged women to get at the last flat screen on Black Friday, but already Wal-Mart Stores, Inc. (NYSE:WMT) and other big retailers are already hoping to recover from below-average sales this past winter by driving home the idea of spring sales and discounts, according to recent reports from the New York Times and CNBC.
Walmart in particular is hoping that its growing home improvement sector will help it boost its sales during the spring season; on Friday the retailer slashed prices on outdoor living, lawn, and garden products. Walmart’s dedication to deeper discounts this spring also puts pressure on already established home improvement retailers like Lowe’s and the Home Depot, both of which count spring as their equivalent of the “holiday season.”
“Nobody does Black Friday better than Wal-Mart, and we’re bringing that same philosophy to our new outdoor living, lawn and garden event,” Michele Gloeckler, vice president of Wal-Mart’s U.S. home division, per CNBC.