Amazon unveils Prime day dates - but Target and Walmart events come first

By Ciara Linnane

Amazon is tapping music artist Megan Thee Stallion to promote its Prime Day event

Walmart Inc., Amazon.com Inc. and Target Corp. have announced their competing summer shopping events, offering discounts on a wide range of goods to inflation-weary consumers.

All three big-box retailers are making a big push on back-to-school items at a time when Americans are struggling with higher prices for food, housing and other essentials.

The trio already announced price cuts on thousands of items ahead of the U.S. May Memorial Day holiday weekend.

Target (TGT) will take the lead with its Target Circle week scheduled to kick off July 7 and to run through July 13 with up to 50% off thousands of items. Member of its loyalty program can save early on back-to-school items with discounts of 30% off certain backpacks and school uniforms.

Walmart (WMT) will kick things off on July 8 starting at 5 p.m. Eastern Time with an event that will stretch to July 11. The retailer will offer deals on items including electronics, home, toys, travel and more, along with items for the back-to-school season.

Members of its Walmart+ loyalty program will have access to deals starting at noon on July 8, some five hours before non-members.

Amazon (AMZN), meanwhile, said its annual Prime Day event will take place July 16 and 17 and that it will offer shop daily deals in the lead-up promoted by influencers.

The e-commerce giant said savings would be available on new-to-Amazon brands such as Clinique, Allbirds, and Kiehl's, and popular brands like Sony, KitchenAid, and Coach handbags. Amazon is also planning to heavily promote back-to-school items.

Prime members will have access to deals across more than 35 categories, including electronics, kitchen, beauty, and apparel.

"New deals will continue to drop as often as every 5 minutes during select periods throughout the event, so members can come back and shop often to find something they love," the company said in a statement.

The deal event will kick off with artist Megan Thee Stallion announcing the dates in a music video featuring an original song with a list of her Prime day picks.

Deals will include up to 40% off Sony wireless headphones and up to 30% off Peloton products. For younger shoppers, the company is offering discounts of 40% off school supplies and dorm staples.

Walmart said deals will include a TCL 65-inch smart TV with Google TV priced at $398, down from $498. The company will offer a $200 discount on a Dyson V12 cordless vacuum at a price of $449.99. Back-to-school supplies will include such items as backpacks, polos and uniforms.

Target will offer 30% off tees, tanks and dresses, 30% off bedding and bath products and 20% off skincare and suncare items.

Amazon's stock was up 1.3% and has gained 24% in the year to date, outperforming the S&P 500 which has gained 14%.

Walmart's stock was was down 2.3% but is up 28% in the year to date and has recently struck a series of records.

Target's stock was down 1.4% but has gained 3.7% in the year to date.

-Ciara Linnane

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06-25-24 1030ET

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