INTERVIEW-Wal-Mart sees dividends from electronics push

* Brand strategy in electronics continues to pay dividends

* Not seeing a shift toward lower priced items

* Not going to be a specialty store

By Nicole Maestri

NEW YORK (Reuters) - Money is tight, credit hard to get and U.S. consumers timid about splurges, but that has not stopped Wal-Mart Stores Inc (WMT.N) from succeeding where others are struggling -- selling consumer electronics.

While many U.S. electronics retailers have cut staff, closed stores or posted losses, Wal-Mart, which has improved its selection of name-brand products and revamped its electronics departments, is gaining market share.

Its June sales at U.S stores open at least a year, a key retail gauge known as same-store sales, rose by a higher-than- expected 5.8 percent, boosted in part by demand for electronics -- such as TVs and video game systems.

While Costco Wholesale Corp (COST.O) said TV and computer sales weakened in June, and BJ's Wholesale Club Inc (BJ.N) said electronics and TV sales were also weaker, Wal-Mart's same- store sales of flat-panel TVs rose in the high double-digit range.

"I think that our brand strategy that we've been working on continues to pay dividends," said Gary Severson, who oversees home entertainment for Wal-Mart's U.S. stores, in an interview on Tuesday.