Released: October 08, 2011

Toys R Us expands layaway program

Source: Los Angeles Times

Toys R Us is expanding its layaway program and offering special Bill Me Later finance plans to help consumers budget before the holidays. The nation's largest toy retailer, which in 2009 launched a layaway program on big-ticket items such as bikes and later added other eligible categories, said that beginning Oct. 15 it would offer layaway on nearly all playthings in 450 of about 600 Toys R Us stores nationwide. Toys R Us President Neil Friedman said the retailer hoped the program's expansion would help parents reserve their gifts "early in the season when selection is best." "We know that consumers will continue to look for ways to stretch their dollars this holiday season, but they still want to make sure they have that special Christmas gift," he said. The in-store layaway option gives customers 90 days to pay for their purchase. A 20% down payment is required and there is a $5 service fee for layaway. Half the total price of the order must be paid within 45 days. All layaway orders must be paid for in full by Dec. 4.

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