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Wal-Mart banks on in-store pickup, tweaks discount strategy for holiday season

(Reuters) - Wal-Mart Stores Inc (WMT.N) said it has launched a new mobile application to reduce in-store pickup times for online orders during the holiday shopping season, focusing on an area where it believes it has an advantage over online rivals like Amazon.com.

The world's largest retailer by revenue, in a media briefing to outline its holiday season strategy, also said that it planned to cut back on short-term "this weekend only" deals to be more consistent on pricing, while offering discounts on thousands of items starting Nov. 1 that will last for 90 days.

(Reporting by Nathan Layne; Editing by Chris Reese)