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Recently, Ill.-based Sears increases 15% restocking fee on diversified electronics, home appliances, tools, and lawn, garden…
Recently, Ill.-based Sears increases 15% restocking fee on diversified electronics, home appliances, tools, and lawn, garden and automotive merchandise sold by the retailer in case that they are returned later. Sears adds it is implementing the restocking charge nationwide at its stores and at the Sears.com Web site to bring it in line with competitors such as Best Buy and Circuit City. Earlier this year, Sears also built a new time frame for returns: 30 days for home electronics and mattresses, and 90 days for all other items. Previously, it had allowed customers to return items within a “reasonable period of time.”
“These changes align us with what the competition is already doing, and our customers’ expectations,” said Sears spokesman Chris Brathwaite.
He said Sears will not alter the fee for items that have not been opened and can be resold as new. Brathwaite said a fee will be assessed if, for example, the returned merchandise is missing a part or a manual, or it is not in its original box.
He also said store managers are permitted to use their discretion on the restocking fees, yet most return situations will be “cut and dry.”
Harris Nesbitt Corp. analyst Richard Weinhart said retailers have implemented restocking fees because the expenses associated with repackaging products and reselling them at a discount have slashed profit margins.
“Sears has become more focused on profits than sales, so this makes sense,” Weinhart stated. |
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