Toys R Us Waives Fee for Layaway Program

by Angela Nazworth | September 4, 2012 11:27 am

Toys “R” Us, which is owned by Vornado Realty Trust (NYSE:VNO[1]), announced that its holiday layaway program will no longer include upfront service fees from now through October 31. A $5 service fee will be charged to customers who participate in the program beginning November 1.

The news of the waived fee comes on the heels of the announcement that Wal-Mart (NYSE:WMT[2]) added various perks to its Christmas layaway program[3].

In addition to waiving the service fee, Toys R Us does not require a minimum purchase for customers participating in the program. Customers have until December 16 to pay for and pick up their orders.

In conjunction with the introduction of the new layaway guidelines, the company announced it is offering special savings this week for customers who want to get a head start on their holiday shopping.

Here’s a look at the offers available until September 8, 2012:

A 20% down payment is required for layaway and 50% of the total price of the order must be paid within 45 days.  In the event a customer cancels his or her order, there is a $10 charge, however, there are some state-specific exceptions regarding this fee, the company said in a press release.

For more information about the layaway program at Toys R Us, visit Toysrus.com/Layaway[4].

Endnotes:
  1. VNO: http://studio-5.financialcontent.com/investplace/quote?Symbol=VNO
  2. WMT: http://studio-5.financialcontent.com/investplace/quote?Symbol=WMT
  3. Christmas layaway program: http://investorplace.com/2012/08/wal-mart-brings-back-christmas-layaway-earlier-adds-perks/
  4. Toysrus.com/Layaway: http://www.toysrus.com/layaway

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