One-day sales aim to reignite retail

Shoppers pass by a store window on Colorado Boulevard in Pasadena on March 6, 2013. (Christina House / For The Times)Two battle-tested retail behemoths are squaring off Wednesday with competing one-day sales online as they try to lure shoppers, who have been keeping a tight fist on their pocketbooks.

Months before the beginning of the crucial holiday season, Amazon.com Inc. and Wal-Mart Stores Inc. are girding for a sales event that they think could turn into one of the massive events of the year.

The event comes a day after the Commerce Department reported that retail sales dropped 0.3% in June from the previous month. The report also revised May retail sales increases downward to 1% from a…