Wal-Mart's $400m Eyewear/Contact Lense Stimulus

BENTONVILLE, Ark., March 19, 2009 – Committed to helping Americans save on out-of-pocket health care costs, Wal-Mart Stores Inc., today announced it has sharply reduced what customers pay for both contact lenses and youth eyewear.

In an effort to further drive down health care costs, Walmart and 1-800 CONTACTS, the world’s largest retailer of contact lenses, are working together to help more Americans save as much as 12 to 50 percent on the costs of a yearly supply of contact lenses. Additionally, Walmart has lowered its prices on glasses and frames for children and teenagers to make quality eyewear more affordable for families across the nation.

“Working with our suppliers and 1-800 CONTACTS, we have found a way to help our contact lens customers spend less and save more,” said Dr. John Agwunobi, senior vice president and president of Walmart’s Health and Wellness division. “By offering greater accessibility and affordability, we believe the customer savings could reach $400 million during the first three years of this alliance.”

To help families during tough economic times, Walmart has also lowered prices on quality eyewear for children 18 years old and younger. Year-round, parents and caregivers will find youth frames and lenses for as low as $39. Walmart will also provide a one year guaranteed free replacement if the glasses are damaged.

“No matter how bad the economy gets, families should never have to sacrifice their children’s ability to see the world in all its detail,” said Agwunobi. “This offering draws directly from our commitment to help families save money so they can live better.”