S&P 500
7,588.60
+0.51%
Dow Jones
52,758.90
+0.47%
Nasdaq 100
29,885.70
+0.46%
Russell 2000
2,982.51
-0.27%
FTSE 100
10,543.60
+0.61%
Nikkei 225
69,317.20
+0.42%

Companies and Brands

Sears/Kmart Surpassing Wal-Mart on Holiday Layaway Plans

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published

Invalid Image
In recent days we could not help but notice how Wal-Mart Stores Inc. (NYSE: WMT) made some significant reductions to its holiday layaway plans to make it more affordable and available.  We also said that if Wal-Mart was going to be buckling in this manner that other retailers would likely follow suit.  News is now out today from Sears Holdings Corporation (NASDAQ: SHLD) that it is jumping in on the layaway bandwagon.

The difference here is that its Kmart unit is just going to remove its layaway service fee for its online and in-store purchases starting September 7th and going through November 17th.

Kmart says that it is currently the only mass retailer to offer the program 365 days a year around the nation.  Another difference from the Wal-Mart layaway plan is that Kmart touts no minimum transaction amount.

Sears shares are up 0.7% at $57.76 while Wal-Mart shares are down by 1.5% at $73.68 so far today.

JON C. OGG

Contact [email protected] for any questions or corrections.

Follow 24/7 Wall St. on Google
Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

Continue Reading

Jon C. Ogg |

Hard Times Live On… Layaway Makes a Comeback (WMT, SHLD, TGT, BBY, TJX, LOW, DG, DLTR, FDO)

Back in the day, a layaway plan made sense for many consumers who did not have the full purchase price…

Wal-Mart Has Too Few Stores in Several Large States, a Weakness for Holiday Success
Douglas A. McIntyre |

Wal-Mart Has Too Few Stores in Several Large States, a Weakness for Holiday Success

If Wal-Mart stores were more evenly distributed, its shot at larger revenue and a knockout blow to some of its…

Jon C. Ogg |

Holiday Layaway Trends at Retailers, a Make-or-Break for 2012

Traditionally, consumers have either saved up for Christmas and holiday gift spending or added balances to their credit cards. That…

Trey Thoelcke |

Toys“R”Us Extends Free Layaway

In its latest attempt to win over customers during the crucial holiday season, Toys“R”Us announced today that it will extend…

Jon C. Ogg |

Sears Loses Key ‘Sell’ Rating From S&P Analyst (SHLD)

Covering gainers on a day when the DJIA rose more than 400 points after a 600 point drop the prior…

Douglas A. McIntyre |

Is RadioShack the Next Kmart?

By Chad Brand of Peridot Capitalist Ask the average person on the street to compare RadioShack (RSH) to Kmart and…

Douglas A. McIntyre |

Will Sears Stock Price Drop to $0?

Common shareholders are nearly always the ones who take the brunt of a restructuring. Sears Holdings will have to restructure,…

Douglas A. McIntyre |

Sears Turnaround Continues to Fail

CEO and controlling shareholder Eddie Lampert has made one more set of comments about why Sears Holdings has entered a…

Sears Stock Drops Near 5-Year Low
Douglas A. McIntyre |

Sears Stock Drops Near 5-Year Low

After Sears Holdings announced another terrible quarter, its stock fell close to a new five-year low.

Top Gaining Stocks

Meta
META • Vol: 40,760,422
CarMax
KMX • Vol: 2,288,021
Weyerhaeuser
WY • Vol: 6,523,553
SBA Communications
SBAC • Vol: 1,443,801
NVIDIA
NVDA • Vol: 148,249,982

Top Losing Stocks

Moderna
MRNA • Vol: 9,176,778
Coterra Energy
CTRA • Vol: 73,319,495
CrowdStrike
CRWD • Vol: 9,269,567
Datadog
DDOG • Vol: 5,135,556
EPAM Systems
EPAM • Vol: 1,164,561