Canada's retailers cut prices to compete

05/23/2013 | Wall Street Journal, The

Canada's March retail sales were flat while sales volume rose 0.7%, as the country's retailers cut prices to compete with new rival Target and keep residents from crossing the border in search of lower US prices. "Consumers are only willing to buy (in Canada) when prices are cut to the bone. They're forcing retailers to be extremely competitive," said Douglas Porter, chief economist of BMO Capital Markets.

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