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Can we hope, since Target can't seem to get it's act together?
It’s possible that some investors will skim past Wednesday morning’s news that Walmart (WMT) plans to get into pop-culture collectibles in a big way.
But the announcement—not coincidentally timed, it might be noted, just before the Thursday opening of the New York Comic Con—might be worth a closer look.
The announcement includes a new collectibles section in 3,500 stores starting later this month; a deal to be the exclusive in-store seller of boxes from subscription “stuff” company Loot Crate; and some available-nowhere-but-Walmart products. (Example: six colored variants of a Funko [FNKO] Thanos doll.)
How much might this matter to Walmart? It could be useful to look at the retailer GameStop (GME), which, in the most recent fiscal year, reported $636 million in collectibles revenue and $208 million in gross profit. (its fiscal year closes around the end of January.)
That’s not so much in Walmart terms. But in a September conference call, GameStop’s interim CEO Shane Kim called the business a $12 billion opportunity in North America alone and said his company sought to grab market share in “a very fragmented market.” Walmart clearly feels the same way.
It’s possible that some investors will skim past Wednesday morning’s news that Walmart (WMT) plans to get into pop-culture collectibles in a big way.
But the announcement—not coincidentally timed, it might be noted, just before the Thursday opening of the New York Comic Con—might be worth a closer look.
The announcement includes a new collectibles section in 3,500 stores starting later this month; a deal to be the exclusive in-store seller of boxes from subscription “stuff” company Loot Crate; and some available-nowhere-but-Walmart products. (Example: six colored variants of a Funko [FNKO] Thanos doll.)
How much might this matter to Walmart? It could be useful to look at the retailer GameStop (GME), which, in the most recent fiscal year, reported $636 million in collectibles revenue and $208 million in gross profit. (its fiscal year closes around the end of January.)
That’s not so much in Walmart terms. But in a September conference call, GameStop’s interim CEO Shane Kim called the business a $12 billion opportunity in North America alone and said his company sought to grab market share in “a very fragmented market.” Walmart clearly feels the same way.
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