Walmart holiday toy layaway program starts Sunday
Bentonville, Ark. — Walmart on Friday announced its Top 20 Toy List for the upcoming holidays and said the items are available now at Walmart stores in time for the retailer’s layaway program, which launches this Sunday. In a social media tie-in, customers who “like” their local Walmart store’s Facebook page can begin using the service immediately.
The discounter also said that if a customer puts a toy on layaway and Walmart rolls back the price later in the season, the chain will honor the rolled-back price if it is in effect at the time of final payment. Walmart will also match competitor pricing during checkout for layaway products through its ad match policy. Customers will be able to pick up their toys once they complete their layaway payments. Once completed, customers will receive a full refund of the $5 layaway open fee on a Walmart gift card.
J.C. Penney to webcast Q&A with CEO on September 19
Plano, Texas — J. C. Penney Company said that in conjunction with an open house tour of its new in-store shops, the company will webcast a question and answer session with its chief executive officer, Ron Johnson.
The question and answer session will be held on Sept.19, starting at approximately 2:45 p.m. ET and will be available via live webcast on J.C. Penney’s Investor Relations page.
Replays of the webcast will be available for up to 90 days after the event.
Sears to contribute $203 million to domestic pension plan
Hoffman Estates, Ill. — Sears Holdings disclosed in a regulatory filing that "because we believe that the company has substantial liquidity and financial flexibility," the company has elected to contribute an additional $203 million to its domestic pension plan on Sept. 14, after which the plan will be 80% funded under applicable law.
Sears said that will enable the plan to offer lump-sum settlements to a portion of the domestic plan’s participants. Sears said that it now estimates that the required contributions to the plan for 2013 will be approximately $350 million.