October 4, 2011 / 11:51 AM / 8 years ago

Toys R Us expands layaway to spur holiday shopping

Oct 4 (Reuters) - Toys R Us [TOY.UL], the world’s largest toy store chain, is making its layaway payment option available for a wider array of gifts for the upcoming holiday season, saying its shoppers need the help.

Toys R Us brought back its layaway program in 2009 and this year will also let shoppers pay for smaller ticket items in a series of payments. Previously, layaways were limited to large, more expensive items like swing sets or tablet computers.

Discounter Wal-Mart Stores (WMT.N) has cut prices on dozens of toys to $15 this year and resumed its layaway plan for them after a five-year break, a reflection of many shoppers’ reduced ability to spend and get credit.

Toys R Us’ layaway will be available at 450 of 600 U.S. stores and gives customer 90 days to pay. (Reporting by Phil Wahba in New York; Editing by Derek Caney)

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