New York has been a tough place for Wal-Mart to gain footing and a recent pricing gaffe in Coca-Cola products has the retailer paying $66,000 in penalties with a promise to improve its pricing practices in the future, according to Attorney General Eric Schneiderman.
His office recently reports that Wal-Mart charges $3.50 for 12-packs of Coca-Cola products instead of the $3.00 advertised price.
"There has to be one set of rules for everyone, no matter how rich or how powerful, and that is why our office must ensure that even the largest corporations cannot advertise one price and then charge a higher one to New Yorkers," Schneiderman noted in his release.
Wal-Mart did not admit to or deny the Attorney General’s discovery that cash registers weren't programmed to recognize the advertised price.
(Update) Wal-Mart released the following statement regarding the settlement:
"We are pleased to have reached an agreement with the New York Attorney General’s office that addressed concern about a promotional pricing issue in our New York stores. We strive for accuracy, and we are further enhancing our procedures to help ensure proper promotional pricing. We apologize for any inconvenience to our customers. They can rest assured that Walmart is committed to delivering the products they need at everyday low prices."