Walmart has introduced significant price cuts on Thanksgiving meal staples, as well as on TVs and other popular electronics.

Yesterday, Walmart began offering select 12-pound Grade A turkeys for under $5 — or 40 cents a pound — as part of the chain’s $20 Thanksgiving menu promotion. Also included in the economical feast are such holiday favorites as two 14-ounce cans of Ocean Spray cranberry sauce, three 6-ounce boxes of Stove Top stuffing, one 5-pound bag of red potatoes and one 22-ounce pumpkin roll cake.

“We’re proving that we’re committed to helping moms afford the holidays in these tough economic times,” said Jack Sinclair, EVP, groceries, Walmart. “That’s why we’re offering incredible pricing on the turkey and all the fixings.”

Additionally, starting Saturday, Nov. 7, the Bentonville, Ark.-based megaretailer’s stores will begin their first one-week electronics savings event with special buys and Rollbacks, including a new $298 HP notebook computer, an $898 52-inch Sharp high-definition TV, and a $148 Sony Blu-ray player.

“Each holiday season we focus on delivering a better price on quality entertainment and electronics, and this season is no different,” noted Gary Severson, SVP, entertainment, Walmart. “It will be evident through the coming weeks that this year Walmart will offer more opportunities for our customers to save than ever before.”

More information on Walmart price reductions and holiday savings on electronics and toys is available at www.walmart.com/ChristmasShop.