cuz i went today and all the stuff was gone and i was freakin mad
2006-12-09 14:38:37 · 15 answers · asked by bobsmileyfreak 1 in Business & Finance ➔ Corporations
It was a global decision. It cost so much to staff and do all of the recordkeeping when WalMart's margins are so narrow (1-2 percent). When you add the cost of layaway the company was losing money.
2006-12-09 14:41:33 · answer #1 · answered by Sir J 7 · 0⤊ 0⤋
This is a press release directly from Wal-Mart explaining why:
BENTONVILLE, Ark. (Sept. 14, 2006) – Wal-Mart Stores, Inc. said today that, because of declining use and increasing costs, the company will phase out its layaway program as it expands other financing options. Customers will have until November 19 to place items in layaway for this Christmas season and merchandise must be picked up by December 8.
“Demand for layaway service has declined steadily as consumers turn to other options, such as online shopping, gift cards and no-cost credit alternatives,” said Pat Curran, executive vice president, store operations, Wal-Mart Stores Division. “To assist our customers, we are offering one last opportunity to use layaway service this Christmas season.”
At the same time, Wal-Mart is working to offer customers new payment options. The company already has zero interest offers for 6 and 12 months for current Wal-Mart cardholders. For the first time, customers who apply for a new Discover or Wal-Mart Credit Card will receive $20 cash back when they apply at the register and purchase at least $100 on their card the same day.
Wal-Mart Stores, Inc. operates Wal-Mart Stores, Supercenters, Neighborhood Markets and SAM’S CLUB locations in the United States. Internationally, the company operates in Argentina, Brazil, Canada, China, Germany, Japan, Mexico, Puerto Rico, South Korea and the United Kingdom. The company’s securities are listed on the New York and Pacific stock exchanges under the symbol WMT. More information about Wal-Mart can be found by visiting www.walmartfacts.com. Online merchandise sales are available at www.walmart.com
2006-12-09 14:43:21 · answer #2 · answered by Lindsay MG 2 · 0⤊ 0⤋
The gal who put the press release up has got the facts. Another issue was that while lay-away was used by some, a large portion of the merchandise was never picked up off of lay-away.. It just sat in the back room until the time limit expired...
2006-12-10 05:24:28 · answer #3 · answered by dswawm 3 · 0⤊ 0⤋
It has been "phased out"..(well its gone). They said due to instant credit and other forms of payments being used, layway is not as popular as it use to be. So no more layaway
2006-12-09 14:41:32 · answer #4 · answered by Jessica S 2 · 0⤊ 1⤋
They've given it up in Central Illinois too. It may be a company-wide decision. My understanding is that they do not have storage room for all the lay-a-way items. Not sure if that is the reason why or not.
2006-12-09 14:41:50 · answer #5 · answered by sandy 3 · 0⤊ 0⤋
I live in Alabama and they have also gotten rid of it here. All Wal-Mart stores are eliminating their layaway plans because they were losing money from it. They had signs up for months before. Sorry for your loss.
2006-12-09 14:40:33 · answer #6 · answered by ashleighshea1982 3 · 2⤊ 0⤋
Because they quit doing it in all their other stores everywhere in the world . . . so it wouldn't be fair to the rest of the people in the world to keep it only in Lubbock, TX.
2006-12-09 14:42:49 · answer #7 · answered by worldinspector 5 · 0⤊ 1⤋
All Wal-Marts stopped layaway, I'm not sure why but it was a company wide decision.
2006-12-09 14:41:39 · answer #8 · answered by LesHug 4 · 0⤊ 0⤋
All Walmart stores are quitting the layaway plans. I think it was because they are loosing money from it.
2006-12-09 14:43:37 · answer #9 · answered by jc 2 · 0⤊ 1⤋
al wal-mart no longer have law aways cuz i guess there was to many people putting things on layaway and no one was bying stuff and they were runing out of space and had no money
2006-12-09 14:42:46 · answer #10 · answered by Anonymous · 0⤊ 1⤋