'Tis the season to layaway
We haven't heard the 'L' word for years, but it's back in force.
Toys R Us announced Monday it will launch a layaway program for its more expensive items. Chief executive Gerald Storch said customers were requesting the service.
Toy sales don't suffer as much as other retail categories in recessions. That's because, when your daughter looks at you with big eyes and says how much she would love the Fur Real Friends Lulu My Cuddlin Kiddy Cat, well, it's hard to say no.
And now, Toys R Us and other stores are making it that much harder to say no. Kmart and Sears are even offering online layaway programs. You must make a down payment of 15% or $10, whichever is greater, and pay a $5 fee, according to The Los Angeles Times.
The new interest in layaway -- from both shoppers and stores -- comes as forecasters expect retail sales to drop this holiday for the second year in a row. The expected 1% decline won't be as bad as last year's 3.4% fall, according to Bloomberg, but retailers are preparing for some bleak numbers.
Stores are also rolling out sales and promotions -- and we'll hear a lot about layaway in the next few weeks.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
New legislation is allowing foreign companies to finally invest in the country's vast oil reserves.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.