UPDATE 1-Walmart touts new price cuts ahead of Black Friday

* Retailer outlines latest holiday price cuts

* Reducing prices in stores on toys, electronics

SAN FRANCISCO Nov 17 (Reuters) - Wal-Mart Stores Inc (WMT.N) said it will offer steep discounts on toys and electronics in its U.S. stores this Saturday, one week before "Black Friday" kicks off the traditional holiday shopping rush.

The latest announcement builds on the retailer's plan, outlined last month, to slash prices in its U.S. Walmart stores every week until Christmas. It has already lowered prices on popular toys and groceries, such as bananas and ground beef.

Walmart said the new prices are good in its stores for one week, starting on Nov. 21. For example, the retailer is cutting the price on the Baby Alive Newborn Doll 47 percent to $8 from $15, and it is reducing the cost of the Disney Princess Scooter to $99 from $129.

In electronics, it will offer a 26-inch Vizio LCD high- definition television for $248, down from $347.

Retailers are gearing up for the busy U.S. Thanksgiving shopping weekend and are preparing to offer special deals and discounts for what has become known as Black Friday, the day after Thanksgiving. (Reporting by Nicole Maestri, editing by Maureen Bavdek)