Wal-Mart focuses on basics to serve its shoppers

Wal-Mart focuses on Christmas basics

BASIC CHRISTMAS: Bill Simon, the new president and CEO of the world’s largest retailer’s U.S. business, is preparing to pull in holiday shoppers with socks and underwear as they seek practical gifts.

WHAT’S BEHIND STRATEGY: High unemployment and tight credit are squeezing Wal-Mart’s core low-income shoppers.

HOLIDAY OUTLOOK: Simon expects a very competitive Christmas, particularly given that many of its customers waited until after schools opened to buy back-to-school items.