Wal-Mart plans to scrap 1,000 magazines from store racks
Meredith Corp.’s Better Homes and Gardens and Ladies’ Home Journal are among more than 1,000 magazines that Wal-Mart Stores Inc. is planning to drop from its magazine sales racks, which could send a huge blow to the publishing industry, reported the New York Post.
Most of the magazines are small publications, but nearly every publisher is affected. Wal-Mart is believed to be responsible for generating at least 20 percent of all retail magazine sales in the United States.
A Meredith Corp. spokesman said that discussions with Wal-Mart are ongoing and that nothing is final yet. In addition to Better Homes and Gardens and Ladies’ Home Journal, the New York Post reported that Fitness magazine, which Meredith acquired from Gruner + Jahr, also is out, while its rivals Shape and Self are still in. Family Circle will continue to be sold there.
Wal-Mart also is dropping several business titles, including The Economist, BusinessWeek, Forbes and Fortune. Other magazines to be dropped include The New Yorker, Cookie, In Style Home, Saveur and Sports Illustrated for Kids. A few magazines on the list are no longer being published, such as Meredith’s Child.