As of today's date...
During the Target toy sale, they are advertising their annual short-lived price-matching policy.
From their website though, and page 2 of the catalogue:
Apparently that is the "Terms and Conditions", as the link on that page to "Ts & Cs" is just the same link to that page. ???Toy price guarantee. If you find an identical toy advertised for less, we'll match it! Simply bring in a copy of the current advertising material and leave the rest to us. Excludes DVDs, interactive consoles and software, international advertisements and promotions. Terms and conditions apply, see online or in store for details.
Be a bit cautious of the "leave the rest to us" bit, as it could allow them to add any condition they want, in order to avoid matching certain items. Since Target don't price-match toys throughout the rest of the year, and individual stores change their minds on the policy at a moments notice (see first post), their commitment to the policy during the catalogue dates is questionable.
(although - there is no cut-off date for this price-match statement, but after the catalogue ends, the stores will claim that the offer was only valid during that time)
BigW's Price Matching policy quoted on their website:
Note that it doesn't say that they reserve the right to check if a competitor has the item in stock... just the price in their current advertisement. If they try to ring up competitors, just ask them to show where the Price-Match policy says that it was a condition.ALWAYS GET IT FOR LESS GUARANTEE
We guarantee Australia's lowest prices on toys because we promise to match any competitor's price - even if you've already got something on layby*.
We make every effort to match advertised prices so that you can be confident that you are paying the lowest price at BIG W.
*If by chance you should find an identical item advertised at a lower price by another store, we guarantee to match that price on the spot. Visit a BIG W store and present the competitor's current advertisement or ask an associate to verify the price, or for online purchases call our Contact Centre on 1300 244 999.
BIG W will price match any product that is identical to the same brand, the same model number or style, and the same weight.
Excludes clearance or wholesale items, online sales, soiled or damaged stock, liquidation sale offers, overseas prices, second-hand, floor stock, end-of-line, ex-demo or similar, and a price printed in error.
This Policy might expire when the catalogue sale ends, as the link above has the name of the Sale next to the "offer".
ToysRUs Price matching policy:
Lists specific requirements (has to be in-stock at the competitor's store) and only during the time frame of this catalogue sale.
Price Guarantee
Spot a lower price and we'll beat it by 10% (excludes online purchases)
Toys"R"Us Price Guarantee is available in store only on purchases during our Lowest Prices of the Season Sale. Tuesday 27 June to Tuesday 17 July 2012. Excludes nappies, wipes, baby food, baby formula, game consoles, iTunes Cards, Prepaid Cards, Gift Cards or non-merchandise goods and services. Competitor's product must be in stock at a retail outlet within the same city or town. Product must be identical (e.g. same brand, model and colour). Competitor's Advertised price mst be current. Price Guarantee is not available when the competitor's lower price is due to category or storewide discounts, conditional sales, package deals, trade-ins, damaged stock, demonstration or discontinued lines and loyalty or third party offers. We will not match online retailers, fire or liquidation sales, clearance and warehouse outlets. Competitor's price will be matched, and a further 10% discount will be taken off the matched price.
Kmart don't appear to have anything listed on their website, or in the Toy Sale catalogue about price-matching... so maybe they no longer do, or it isn't something they promote anymore (but still do, if you ask in store).