6/4/2013

Washington-based outdoor gear retailer REI has instituted a one-year limit on merchandise returns, ending a longstanding policy of taking back all products with no time limits after the retailer noticed a sharp rise in returns of older items. "What we found is that small group of folks who are probably extending the policy beyond its intent, is getting bigger," REI's Senior VP of Retail Tim Spangler said. Retailers lost about $9 billion to return fraud last year, according to NRF data.

Full Story:
The Seattle Times

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