Wal-Mart, humbled king of retail, plots rebound

SADDLE BROOK, New Jersey (AP) — The world's largest retailer is fighting back.

In the last two years Wal-Mart has seen competitors chipping away at its dominance and taking advantage of changes in its pricing strategy and its decision to remove thousands of products to streamline its stores.

Now the undisputed king of the retail industry, with more than $400 billion in revenue last year, is pledging to match its U.S. rivals' prices and restock its departments. It's also opening smaller stores around America to go head-to-head with popular dollar stores, that generally sell inexpensive items for one dollar each.

In the battle for shoppers it's Wal-Mart versus everyone …