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Wal-Mart to expand video game trade-ins

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press
Wednesday, March 19, 2014 - 7:58 am

NEW YORK – Wal-Mart plans to expand its video game trade-in program to its stores, offering store credit for thousands of video games.

The world's largest retailer plans to let video game owners trade in used video games online and in Wal-Mart and Sam's Club stores for store credit but not cash. It had offered trade-ins on a more limited basis online.

It will also offer refurbished used games in its stores for the first time. Wal-Mart has been seeking new ways to boost revenue as its low-income customers remain under pressure due to a weak jobs picture and shaky economy. In its most recent fourth quarter, net income dropped 21 percent, and the Bentonville, Ark.-based company gave a subdued forecast for the current year.

“Gaming continues to be an important business for us and we're actively taking aim at the $2 billion pre-owned video game opportunity,” said Duncan Mac Naughton, chief merchandising and marketing officer for Wal-Mart U.S.

In a call with journalists, Wal-Mart executives said CE Exchange, the company that partnered with them on their trade-in program for smartphones and tablets, will also be in charge of the video game program.