Wal-Mart Launches Free Layaway

In front of 6,000 Wal-Mart associates at the company's annual holiday meeting Wednesday, Chief Merchandising and Marketing Officer Duncan Mac Naughton introduced free layaway with no opening fee. Beginning Sept. 13 through Dec. 13, layaway will kick off the retailer's official start to the holiday season. "Times are tough and it's not easy for many Americans — they're watching every penny," said Mac Naughton. "All year long, but especially during the holidays, our customers need a low price leader. This year, we're committed to doing everything we did last year to help Americans save money — plus more."