The American magazine industry has been dealt a devastating blow – America’s biggest retailer Wal-Mart, which has more than 4,000 stores,in the US, is cutting down on its magazine sales.
It is dropping over 1, 000 titles, among then some of the best known, including such publications as The Economist, Business Week, Forbes and Fortune. The reason, although Wal-Mart has not said so officially, is the amount of space magazines take up these days in their stores, and the declining revenue from magazine sales. Wal-Mart is responsible it’s said for 20 per cent of retail magazine sales in the US.
Hardest hit is the Meredith Corporation. It’s flagship Better Homes & Gardens is out. As is its sister magazine Ladies Home Journal, one of America’s oldest women’s magazines. Family Circle will continue to be sold.
Fitness, which Meredith recently picked up from Gruner and Jahr, is also out. Though Shape and Self will continue to be sold. Hearst’s Town & Country is out, as is Hachette’s Home and Metropolitan Home. Sports Illustrated will stay on the shelves, but Sports Illustrated for Kids is getting the heave-ho
Among the more obscure magazines that will no longer be on the stores’ shelves include the Boar Hunter, Spirituality & Health, Cabin Life and Log Home Living. In the main ,celebrity mags appear to have escaped the axe.