For years, REI’s generous return policy has earned it the nickname “Rental Equipment Inc.”

Now REI will try to discourage customers from “renting” equipment for as long as they like by ending its policy of no time limits on returns. Customers will be allowed to take back store items for one year after purchase. The deadline for returning outlet merchandise bought on REI.com will be 30 days.

REI, which actually stands for Recreational Equipment Inc., made the change after noticing a sharp uptick in returns of merchandise more than a year old, said Senior Vice President of Retail Tim Spangler.

— From wire reports