April 8, 2008, 12:00 AM

Apple’s iTunes Store tops the music retailer charts, beating out Wal-Mart

Apple’s online iTunes Store has surpassed Wal-Mart as the top U.S. music retailer based on January and February sales, according to research firm NPD Group. Wal-Mart took second place, followed by Best Buy, with Amazon and Target tied for fourth.

Apple Inc.’s online iTunes Store has surpassed Wal-Mart Stores Inc. as the leading U.S. music retailer based on January and February sales, research firm NPD Group Inc. says.

“We launched iTunes less than five years ago, and it has now become the number one music retailer in the world,” says Eddy Cue, vice president of iTunes. Apple adds that iTunes has sold more than 4 billion songs to more than 50 million customers.

Wal-Mart, which declined to comment on the report, came in second in January and February music sales, followed by Best Buy Co. Inc., with Amazon.com Inc. and Target Corp. tied for fourth, NPD Group says.

Apple is No. 15 in the Internet Retailer Top 500 Guide; Wal-Mart is No. 13; Best Buy, No. 11; Amazon, No. 1, and Target, No. 19.

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