Excerpts from the L.A. Times story:
On Wednesday, discount giant Wal-Mart said it would bring back its layaway program this year after last year’s program pulled in 10% more in sales than it did when it debuted in 2011.
Layaway, which allows customers to put products on hold while paying for them in installments, will be free from opening fees this year. The chain previously charged a $5 fee to open a layaway account.
As in previous years, Wal-Mart will require a down payment of $10, or 10% of an item’s price. The company reinstituted a $10 cancellation fee, which it had removed last year.