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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 This material may not be published, broadcast, rewritten or redistributed.The Associated Press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 07:30 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.

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