Wal-Mart Scraps Layaway Tradition

  • September 15, 2006
Wal-Mart Stores is scrapping layaway service this year, a tradition started when Sam Walton founded the chain in 1962. Online shopping, shopping cards and no-cost credit alternatives have eroded demand for the service, the company says. "This is another recognition that Wal-Mart is no longer a little Ozarks company but instead is the nation's largest private employer and the world's largest retailer," said Patricia Edwards, retail analyst at Wentworth, Hauser & Violich.
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