Wal-Mart unveils early holiday toy discount

NEW YORK ? Wal-Mart did not say how many toys it is discounting, but Laura Phillips, senior vice president of toys and seasonal merchandising, said in a statement the company conducted focus groups throughout the year to ensure that the company has the right toys in stock and offered at discounts. The early, aggressive discounts are an opening gambit in what's expected to be a positive selling season for toys. Spending on toys is expected to rise 2 percent this year after declining 1 percent to $21.47 billion last year, according to The NPD Group, which does market research.