Wal-Mart announces discount download service

Wal-Mart, the world's number 1 retailer, has announced it has officially launched its online Music Downloads service from its Web site, charging 88 cents (71 cent) per song.

The launch follows what the company described as a "successful" testing period.

Wal-Mart has about 4.800 stores worldwide, including 1,475 discount stores, 1,750 combination discount and grocery stores (Wal-Mart Supercenters in the US and ASDA in the UK), and 538 membership-only warehouse stores (SAM'S CLUB).

Nearly 75% of its stores are in the US, but Wal-Mart is expanding internationally; it is the number 1 retailer in Canada and Mexico and owns 36% of Japanese supermarket chain SEIYU.

Wal-Mart also has operations in South America, Asia, and Europe.

Shares of the Bentonville, Ark., retailing giant and Dow component closed yesterday at $58.10 (€47.29).