Target tries to lure shoppers with new return policy

MINNEAPOLIS - Target (TGT) will allow returns for up to a year for the store's private and exclusive brands as it seeks an advantage over rivals, both traditional and online.

The announcement Wednesday extends the previous 90-day return window significantly and is one of the most liberal polices among major retailers.

At Walmart (WMT), most items bought in a store can be returned within 90 days of purchase. For online purchases, you have 90 days from when you received it.

Items shipped from Amazon.com (AMZN) can be returned within 30 days of receipt of shipment in most cases. Some products have different policies or requirements associated with them.

Best Buy (BBY) allows returns on almost everything within 15 days for a full refund or exchange.

Target's new return policy covers all of its 32 owned and exclusive brands including Circo children's items, Threshold household goods and Merona shirts.

One-year returns also apply to Target's baby, college or wedding gift registry, but those products must be returned unopened.