Walmart Says It Won't Honor Erroneous Prices Caused by Website Glitch

Attention Walmart shoppers: Your too-good-to-be true online orders have been canceled.

That's the word as of Thursday afternoon following a glitch on Walmart's (NYSE: WMT) website Wednesday morning that allowed consumers to score bargain prices on items ranging from $8 TVs to $33 treadmills. Once the problem was exposed, it was unclear if Walmart would honor the orders, but Ravi Jariwala, a spokesman for the company, confirmed that the erroneously priced orders will be canceled. 

"Given the wide discrepancy in pricing, we are notifying customers who ordered these items that their orders have been canceled and that they'll be refunded in full," Jariwala said in an e-mailed statement, reports Bloomberg.

Walmart sent customers affected by the cancellations an email stating they would be issued a full refund along with a $10 gift card for the inconvenience. There's no word from Walmart on how many orders were placed during the website malfunction.

While some analysts believe the retailer should have honored the low prices, Walmart's policy technically puts the retailer in the clear. According to Walmart.com's terms of use policy, "Pricing errors may occur on the Walmart sites. Walmart reserves the right to cancel any orders containing pricing errors." The policy goes on to state, "We reserve the right to refuse or cancel an order for any reason including limitations on quantities available for purchase, inaccuracies, or errors in product or pricing information, or problems identified by our credit and fraud avoidance department."

For more see:
This Bloomberg article
This ABC News article

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