|Jan 4, 2013, 08:51 AM||#1|
Best Buy Complains About Walmart's iPhone 5 Holiday Sale, Claims $65,000 Profit Loss in One Day
The Wall Street Journal notes that several retailers including Best Buy and Toys "R" Us have complained to attorneys general in a handful of states about advertising practices of Walmart. Generally, the complaints stem from comparison ads by Walmart in which competitors assert that Walmart is using inaccurate pricing or non-equivalent items to claim that it offers the lowest pricing.
But Best Buy also alleges that Walmart was deceptive with its iPhone 5 holiday sale in which it dropped pricing to $127, although the article quotes $150 pricing.
Best Buy had already been selling the iPhone 5 for $149.99 when Walmart announced its own sale, but it is unclear if Best Buy used the $73 difference from regular price or $23 difference from Best Buy's sale price in calculating its profit loss. Assuming the latter, Best Buy would have price matched on approximately 2800 iPhone 5 sales in one day.
Article Link: Best Buy Complains About Walmart's iPhone 5 Holiday Sale, Claims $65,000 Profit Loss in One Day
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