Walmart lowers expectations for Christmas sales

WalmarRetailers in the US have lowered expectations for the coming holiday season sale as the country continues to record unemployment within its customer base, tight budgets and effects of the government's health care plans.

Wal-Mart Stores are looking to begin its online promotions on Friday, which is a month earlier than usual. Wal-Mart Stores, which is the world's largest retailer, has indicated that it is planning to roll out holiday deals for customers much earlier this year through its website. The nation's largest retailer indicated that even as it recorded a higher than expected profit during the quarter, it expects consumer spending to fall in the coming months.

William S. Simon, chief executive of Walmart, said of the company's customer base that, "Their income is going down while food costs are not. Gas and energy prices, while they're abating, I think they're still eating up a big piece of the customer's budget."

The company's website will be offering another 300 holiday deals for the customers. The seven deals include a 42- inch JVC LED TV for $299, which is a discount of 36 per cent, and a 10-inch XELIO tablet for $49 with a 51 per cent discount. The retailer is aiming to boost sales in the holiday season as customers continue to see spending pressure in the US.