UPDATE 1-Wal-Mart cutting prices 10-30 pct on some items

(Adds details, comment, chain store sales, byline)

By Nicole Maestri

NEW YORK, Jan 29 (Reuters) - Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research, Stock Buzz) said on Tuesday it is cutting prices on "thousands" of items by 10 percent to 30 percent this week to win sales in a difficult economic environment.

A Wal-Mart spokeswoman did not have an exact figure on the number of items included in the price cuts but said the world's largest retailer was reducing prices on groceries, popular electronics and other items that shoppers might buy ahead of the Super Bowl football championship game on Sunday.

Wal-Mart typically announces widespread price cuts during the ultra-competitive holiday shopping season.

But 2008 U.S. retail sales are forecast to rise at the slowest pace in six years, and retailers are trying to lure shoppers into their stores to spend their limited budgets.

Consumers, however, remain reluctant to spend. U.S. chain store sales fell 1.2 percent for the week ended Jan. 26, compared with the prior week, the International Council of Shopping Centers Inc and UBS Securities LLC said on Tuesday.

"The consumer is not motivated to shop and spend this January -- aside from necessities -- and the sales performance has reflected just that," Michael Niemira, ICSC's chief economist, said in a statement.

To boost sales, Wal-Mart is emphasizing low prices and has rolled out an extensive advertising campaign built around a new slogan, "Save Money. Live Better."