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Wal-Mart bringing back layaways for holiday shopping
Bentonville, Ark. -- Wal-Mart Stores will introduce a holiday layaway plan effective Oct. 17 through Dec. 16. The program has a minimum layaway purchase of $50, and requires a 10% down payment. If the program is successful, Wal-Mart said it may extend it throughout the year.
When Wal-Mart phased out its previous layaway offer in September 2006, such programs had fallen out of popularity. But Sears and some merchants brought back layaways as the recession cut into spending.
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J.C. Penney pulls back a bit on holiday expectations
New York City -- Speaking at the Goldman Sachs 18th Annual Global Retailing Conference in New York City, Myron Ullman III, chairman and CEO of J.C. Penney Co., expressed confidence that the chain is well positioned for the holiday selling season. However, he noted that uncertain economic conditions have caused the chain to pull back on its expectations.
Ullman noted that customers are still purchasing promotionally priced items along with full-priced goods.