Wal-Mart Plans to Reduce Grocery Prices by $1B

Wal-Mart will lower grocery prices by $1 billion this year, hoping consumers will come in for the reduced costs and then fan out to other parts of the store. The retailer, the largest grocery retailer by sales in the U.S., is taking the step to continue or increase the progress its U.S. stores began to see in the second half of last year, when U.S. comparable-store sales turned positive.