Walmart forges ahead with Rollbacks program

BENTONVILLE, Ark. Walmart's Rollbacks program could prompt $700 million in savings for families this summer, the big-box retailer said Tuesday.

The Rollbacks program, which reduces prices of items throughout the store, will touch all grocery categories this summer. A recent survey conducted by Greenfield Online (on behalf of Walmart) found that 3-out-of-4 moms continue to look for ways to stretch their dollars, while 78% of those surveyed find saving money on basic items and everyday purchases to be critical to their budget.

"Our aggressive Rollbacks program is part of our commitment to save people money by creating hundreds of millions of dollars in savings for American families on the things that matter most such as grocery items," said Jack Sinclair, EVP grocery for Walmart. "We've also focused our 'deep Rollbacks' on favorite, pantry essentials, which have resulted in the most significant Rollbacks in the company's history.

"We know this summer is still going to be tough for American families and our 'deep Rollbacks' on everything from ice cream to cereal are designed to help them enjoy the summer for less," added Sinclair.