Faced with declining interest by customers, Wal-Mart announced that it will no longer offer a layaway option. Previously, customers who could not afford an item all at once and did not qualify for a credit card could establish a credit history through Wal-Mart using the layaway plan. Customers paid a percentage of the total as a down payment and then spread the remaining amount due over the course of several months. Major retailers such as Sears and Wal-Mart were some of the first to offer this service to working class families in the U.S. Now that many people, wisely or not, have access to credit cards to make immediate purchases and pay later, the layaway option seems a bit nostalgic. Wal-Mart customers with items on layaway have until December 8 to complete their purchases. Kmart still offers a layaway option, as does Sears for major appliiances and jewelry purchases. Circuit City, Best Buy, and Target have no layaway options. WalMart expects that discontinuing the layaway option will have absolutely no effect on sales.

Out of more than 800 companies surveyed, Wal-Mart was recently voted one of the 50 best places for Latinas to work according to Latina Style Magazine. Wal-Mart has been courting the Hispanic community who form a significant component of WalMart's customer base. Wal-Mart recently announced it made a $75,000 donation to the Smithsonian Institution to sponsor "Smithsonian con Sabor," a gala to raise money for Smithsonian Latino Center programs that highlight Hispanic culture, heritage and achievements.

During September, Wal-Mart will donate 400 truck loads of protein-rich foods, enough to make 7.5 million meals, to America's Second Harvest - The Nation's Food Bank Network. Through its WalMart and SAM'S Club locations, Wal-Mart raised $8.7 million to fund the food giveaway. $1.5 million of the total raised is specifically earmarked for the Back Pack program, in which children who qualify for free or subsidized meals at school are given food to take home over the weekend.

WalMart to end layaway originally appeared on BloggingStocks on Fri, 15 Sep 2006 12:45:00 EST. Please see our terms for use of feeds.