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USA Today reports that Walmart’s new US CEO, Bill Simon, told an analyst conference this week that the company will be looking to expand selection and focus on everyday low prices, with less focus on promotions. And, he said, because Americans remain economically challenged because of the recession, Walmart expects that the focus during the upcoming holiday shopping season will be on practical gifts.

"So for all you adults, you should plan for socks and underwear,” Simon said.
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