Sears Fulfills Customers' Wishes and Offers Popular Layaway Program

Just in Time for the Holidays, Sears Kicks off Layaway Starting Sunday, Nov. 16

Hoffman Estates, Ill., // PRNewswire-FirstCall // -- When Sears asked its customers what they wished for this holiday season -- they said they wanted more ways to make the holidays special. To fulfill these wishes and make gift giving even easier and more accessible for families on a budget, Sears today announced it will offer layaway on a wide selection of merchandise. Beginning Sunday, Nov. 16, Sears will enable customers to reserve the best merchandise, pay in installments and pick up the items just in time for the holidays.

"Our customers are talking and Sears is listening! Not only did we hear feedback from our customers, but we saw the very positive response to our sister retailer's -- Kmart -- layaway program," said Don Hamblen, Sears' chief marketing officer. "In this difficult economic climate, extending the layaway program at Sears is an easy decision and one that we hope will provide additional value to our customers."

Sears will offer an extensive range of merchandise for layaway, from a wide Craftsman* tool selection and lawn & garden equipment, to toys, apparel, jewelry and fitness equipment. The Sears layaway program is similar in scope to the Kmart program, yet provides customers with the opportunity to take advantage of Sears' products that may not be available at Kmart. The Sears layaway program will be available in Full Line and Sears Hardware Stores.

"We want our valued Sears customers to be able to stay within their holiday budgets this year. We're making that happen by offering the benefits of layaway, as well as Early Black Friday pricing -- all starting this weekend," said Hamblen.

The final day to add new merchandise to layaway will be Dec. 22, 2008. Additionally, holiday merchandise must be paid in full by Dec. 23, 2008. The layaway program does not affect the existing Fine Jewelry program. Layaway fees do apply and layaway is not available at all Sears stores. The total down payment for layaway must be $15 or 20 percent, whichever is greater. Please visit sears.com/layaway for more information.

*Also available at Kmart.

About Sears Holdings Corporation

Sears Holdings Corporation (Nasdaq: SHLD) is the nation's fourth largest broadline retailer with over $50 billion in annual revenues and approximately 3,800 full-line and specialty retail stores in the United States and Canada. Sears Holdings is the leading home appliance retailer as well as a leader in tools, lawn and garden, home electronics and automotive repair and maintenance. Key proprietary brands include Kenmore, Craftsman and DieHard, and a broad apparel offering, including such well-known labels as Lands' End, Jaclyn Smith and Joe Boxer, as well as the Apostrophe and Covington brands. It also has Martha Stewart Everyday products, which are offered exclusively in the U.S. by Kmart and in Canada by Sears Canada. The company is the nation's largest provider of home services, with more than 13 million service calls made annually. For more information, visit Sears Holdings' website at http://www.searsholdings.com.

Sears Layaway Policy

  • Program available in Full Line and Sears Hardware Stores (not available in Automotive, Dealer, Outlet Stores)
  • Eligible merchandise: must be in-store merchandise. Excludes Home Electronics, Home Appliances, Automotive Merchandise, Consumables, Beer/Wine, Licensed Business, Gift Cards and Doorbusters/Early Open Specials.
  • Does not affect existing Fine Jewelry layaway program (6/12 mos)
  • Total down payment of $15 or 20%, whichever is greater
  • $5 non-refundable service fee in all states except Maryland ($1)
  • $10 cancellation fee will apply
  • Program launches storewide on Sunday, Nov. 16
  • Last day to add new layaways is Monday, Dec. 22nd
  • Layaways must be paid in full by Tuesday, Dec. 23rd

SOURCE Sears Holdings Corporation

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