FIRST AIRED: February 27, 2017

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Transcript

00:00:01
>> Walmart taking on its grocery store rivals with a new price comparison test, launching the strategy in at least 1,200 stores across the U.S. and squeezing packaged goods suppliers. Four sources telling Reuters exclusively that the big box retailer is going back to its roots and rolling back prices in the grocery department.
00:00:23
A bid to beat out competitors like Kroger, Albertson's and two German-based newcomers that pose a serious threat to Walmart. Discount grocery chain Aldi and Lidl, which plans to enter the highly competitive U.S. market this year. Spot checks by Reuters on several grocery items sold by Aldi and Walmart stores in five midwestern cities showed that Walmart's bid to lower prices is already working.
00:00:49
Offering consistently lower prices than Aldi. Competition has gotten intense between the two stores, with both competitors selling a dozen large eggs for less than $1 and a gallon of milk at some stores prices at around $1. Walmart also demanding that vendors reduce the cost they charge by 15% and to work harder on shipping orders.
00:01:11
The stakes couldn't be higher for Walmart, its grocery business accounts for 56% of the companies revenue, and the moves signal a new front in the price war for U.S. shoppers as the pioneer of everyday low pricing seeks to reassert its dominance as top dog retailer.