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Given that Visa and MasterCard can continue to fixinterchange, they can recoup the settlement amount quickly byraising interchange rates in the future, said Jai Holtz, vicepresident of financial services for Sears, in an objection filedMay 25. The one-time payment could be entirely eviscerate
"People don't want to miss the opportunity to get the hot items," said Jai Holtz, vice president of financial services at Sears Holdings (SHLD, Fortune 500), which owns Kmart. "Even though they can't afford an item, they have the ability to pay it off over eight to 12 weeks."
"We understand the excitement holidays bring and the budget concerns that come with them," said Jai Holtz, vice president of financial services at Sears Holdings, which owns Kmart. "By providing free layaway, we want to help make holiday shopping less stressful."
The parent company plans to do the same for its Sears stores, but Jai Holtz, vice president of financial services for Sears Holdings, says its still finalizing the time frame. Both Kmart and Sears have charged $5 for an 8-week layaway contract and $10 for the 12-week program.
Hoffman Estates, Ill., plans to do the same for its Sears, Roebuck and Co. stores, but Jai Holtz, vice president of financial services for Sears Holdings, says it's still finalizing the time frame. Both Kmart and Sears have charged $5 for an 8-week layaway contract and $10 for the 12-week program.
"At Kmart, we understand the excitement holidays bring, and the budget concerns that come with them," Sears Holdings VP financial services Jai Holtz said. "By providing free layaway we want to help make holiday shopping less stressful."
Date: Sep 07, 2012
Category: Business
Source: Google
Kmart Removes Layaway Fees to Help Boost Holiday Shopping
Free layaway at Kmart will be available online and instores today through Nov. 17, said Jai Holtz, vice president offinancial services at Sears, adding that the company willconsider extending the program past the holidays.