Costco Wholesale Corp., is brought its liberal consumer electronics return policy, which gave no time limit on returns of any size, to an end. Customers will now have 90 days to return CE products such as computers, PCs, iPods and other gadgets.
Starting tomorrow, the Seattle-based company will halt the program that CFO Richard Galanti says costs the company literally tens of millions of dollars each year.
The move comes as many customers were reportedly abusing the policy by holding onto electronics for more than a year before returning them to the store to upgrade to a newer model, or simply returning the items for newer ones (often at a lower price).
In addition to halting the unlimited time frame for returns, the company is also reducing manufacturer warranties from two years to one on items such as computers and televisions.
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