Layaway Wars Heating Up as Shopping Season Approaches
By ANNE D’INNOCENZIO, AP Retail Writer
NEW YORK (AP) — Kmart, a division of Sears Holdings Corp., says it’s waiving the fees that shoppers pay to open its interest-free pay-over-time program at its discount stores and online.
The parent company, which also operates stores under the Sears, Roebuck and Co. name, said Friday it’s removing its layaway service fee through Nov. 17. Kmart had charged $5 for an 8-week program and $10 for the 12-week program.
The move comes three days after Wal-Mart Stores Inc. said it was lowering its layaway program fee to $5 from $15.
Toys R Us Inc. said Monday it was waiving the upfront service fee for layaway orders created in store from Sept. 4 through Oct. 31. After Oct. 31, a $5 service fee will apply.
Sears is based in Hoffman Estates, Ill.