DVD Doesn't Add to Wal-Mart Q3 Growth13 Nov, 2007 By: Chris Tribbey
Wal-Mart Stores Inc. reported net sales growth of 8.8% in the third quarter of this year, during an investor earnings call Nov. 13. However DVD didn't contribute to that growth.
“Like others in the industry, we are seeing a slow down in sales of music and DVD,” said Eduardo Castro-Wright, EVP, president and CEO of Wal-Mart Stores Division. Wal-Mart is finding sales growth for its electronics division in TVs, GPS units, digital cameras, video games and computers, he said.
He also said sales of flat panel TVs were up 110% in the third quarter over last year and laptop computers were up more than 80%.