Sears adds 15% fee for returns
By Wendy Tanaka
Knight Ridder News Service
Think carefully the next time you buy a TV or toaster from Sears.
Starting Sunday, various electronics, home appliances, tools, and lawn, garden and automotive merchandise sold by the retailer could be subject to a 15 percent restocking fee if they are returned later.
Hoffman Estates, Ill.-based Sears said it is implementing the restocking charge nationwide at its stores and at Sears.com to bring it in line with competitors such as Best Buy and Circuit City.
Earlier this year, Sears also established 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 charge the fee for items that have not been opened and can be resold as new. Brathwaite said a fee will be assessed if, for instance, the returned merchandise is missing a part or a manual, or it is not in its original box.
He also said store managers are allowed to use their discretion on the restocking fees, but 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 cut into profit margins.
"Sears has become more focused on profits than sales, so this makes sense," Weinhart said.
Overall, he said, the fees represent "the way the industry has gone. I would be surprised if most customers of Sears weren't already used to this" at other retailers.