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Business of the Holidays

Wal-Mart Tells Store Managers to Match Amazon’s Online Prices

The battle for your bucks this holiday season is heating up. First it was an ever-earlier holiday shopping season, marked by some merchants announcing crack-of-dawn openings on Thanksgiving. Now, Wal-Mart -- the largest retailer in the country -- has told managers at its roughly 5,000 stores across the U.S. that they can match prices with Amazon and other online retailers.

Greg Foran, the head of Wal-Mart's U.S. business, said Thursday that the directive was meant to formalize a practice already in place in many stores. "About half of the stores were doing it anyway," Foran said on a call with media after the company reported its quarterly results. Ultimately, the winner of the battle could be consumers as the retailers offer discounts to bring in customers.

Wal-Mart's new Black Friday tactic 1:26

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-- Reuters and NBC News staff