The U.S. Consumer Product Safety Commission reported on Thursday that retail giant Wal-Mart Stores, Inc. (WMT) has voluntarily recalled about 1.5 million Durabrand DVD players, citing overheating as well as fire and burn hazard to consumers. These DVD players were sold exclusively at Wal-Mart stores nationwide from January 2006 through July 2009.
The China-made DVD players, imported and sold exclusively by Bentonville, Arkansas-based Wal-Mart, overheats on operation, which also poses as a fire and burn hazard to consumers. Wal-Mart said it has received 12 reports of the DVD players overheating, including the five reports that resulted in fires that caused property damage, but no injuries have been reported yet.
The DVD player affected by the recall is a single DVD player with a remote control, which is a silver-colored electronic device having a U-shaped opening at the top to insert the DVD, priced at $29.
The U.S. Consumer Product Safety Commission has warned consumers to immediately stop using the recalled products unless otherwise instructed. The commission also asked consumers to return the DVD players to the nearest Wal-Mart store for a full refund. Consumers can receive further details by phone at 800-925-6278, and through the Web at www.walmartstores.com or www.cpsc.gov.
The U.S. Consumer Product Safety Commission is an independent federal agency created by Congress in 1973 and charged with protecting the American public from unreasonable risks of serious injury or death from more than 15,000 types of consumer products under the agency's jurisdiction.
In May, in order to capture the space left vacant by the exit of bankrupt consumer electronics retailer Circuit City Stores, Inc. (CCTYQ.PK), Wal-Mart reportedly revamped its electronics departments at its 3,500 odd stores in the U.S. The report stated that Wal-Mart would provide roomier and more interactive electronics displays, that would begin arriving in stores on May 18, 2009.
Wal-Mart is among the few retailers that has been benefiting from cash-strapped shoppers, who flocked to trade down for less pricey products and focused on necessities amid the economic downturn. Wal-Mart gained new customers and improved its market share position as it enticed consumers through seasonal offerings providing enhanced shopping experience.
Wal-Mart has never been taken seriously by electronics makers that wanted to cultivate a top-of-the-line image, as Wal-Mart targets the budget customers. However, this situation would change now with Wal-Mart focusing on the electronics departments at its stores with exclusive space provided for popular brands.
Last week, Wal-Mart reported that its second-quarter profit was nearly flat with the year-ago quarter, which benefited from economic stimulus checks. Net income was $3.442 billion or $0.88 per share, compared to $3.449 billion or $0.87 per share in the year-ago quarter. Total quarterly revenues, including membership and other income, edged down to $100.91 billion from $102.34 billion last year. Net sales for the quarter were $100.08 billion, down 1.4% from last year, while excluding the negative impact of currency exchange rates, net sales increased 2.7% to $104.28 billion.
WMT closed Thursday's regular trading session at $51.71, up $0.04 or 0.08% on a volume of 9.30 million shares, lower than the three-month average volume of 17.36 million shares.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.