Wal-Mart's Wholesaler Jumps on Price Cuts

NEW YORK (TheStreet) -- Price cuts are coming in all shapes and sizes at Wal-Mart Stores(WMT Quote), including at its wholesaler, Sam's Club.

The discount giant announced, during its two-day annual meeting on Thursday, that it plans to expand categories like fresh food and health and beauty at Sam's Club, which could mean taking away from other merchandise categories.

Sam's Club will also follow the lead of Wal-Mart by offering lower prices on a bevy of items.

Store redesigns are also in the pipeline, as are plans to reduce the hours of employees.

In the second-quarter, sales at Sam's Club slipped 3% to $11.91 billion, while same-store sales inched up 0.6%.

On Wednesday, Wal-Mart said it will offer reduced prices on thousands of items every week during the holiday season.

Shares of Wal-Mart are down by 0.6% in afternoon trading to $50.44.

-- Reported by Jeanine Poggi in New York

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