Saturday, January 19, 2008

Wal-Mart tosses 1,000 Magazines from their racks


January 18, 2008 -- RETAIL behemoth Wal-Mart is tossing more than 1,000 magazines from the racks in its stores, sending yet another shock wave through the battered publishing industry.

Most of the magazines are small, and more than a few of the victims are titles that have long since stopped publishing, including Child, Celebrity Living, Elle Girl, Teen People, Suede, Shop Etc., Weekend and FHM. However, virtually no major publisher was spared.

Wal-Mart, which released its official purge list on Jan. 15, is believed to be responsible for generating more than 20 percent of all retail magazine sales in the US.

Wal-Mart had not returned calls by presstime.

The move is likely to hurt new magazines, which take time to nurture and develop a following.