Responding to Customer Requests, Sears Brings Back Layaway in 2009

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Layaway Offered Year-Round in Sears Full Line and Sears Hardware Stores

Hoffman Estates, Ill.,// PRNewswire-FirstCall // -- Responding to savvy consumers who want to continue to manage their finances in the New Year while taking care of their families' needs, Sears announced it will offer its layaway program year-round. Just as it did during the holiday season, Sears will enable customers to reserve Sears' best merchandise, pay in installments and pick up the items within 90 days.

A customer from Nyssa, Ore., was just one example of the calls and emails Sears received, stating: "Layaway saved our Christmas this year! It is a wonderful tool for those of us that want to make purchases and do not have the funds to pay for it all up front."

"The response to Sears' offering layaway over the holidays was quite positive, and as a result, we decided to extend into 2009," said Don Hamblen, Sears' chief marketing officer. "The feedback from shoppers was incredible. By offering great values and an affordable way to pay for their purchases with layaway, we are confident that customers will be able to continue to give their families the things they want and deserve in the New Year."

Another customer from Fairbank, Iowa sent the following message: "Stress Free Holiday Shopping! Layaway was very helpful to me and my family this year. Instead of stressing about holiday shopping within a few weeks before Christmas, I was able to shop once, put a small down payment down that day and then make a payment once every two weeks. Layaway took a lot of stress out of my life and no credit card debt too boot! Thanks for offering such a helpful service!"

Merchandise from a wide selection of Craftsman* tools and storage, lawn & garden equipment, and patio furniture for spring and summer, as well as the well-respected Lands' End and Ty Pennington lines, along with jewelry and fitness equipment to fit every need are eligible for layaway.

The Sears 2009 layaway program does not affect the existing Fine Jewelry program. Sears will offer layaway in most full line and hardware stores, and layaway fees do apply. Please visit sears.com/layaway for more information. *Also available at Kmart.

Sears Layaway Policy

A Layaway contract is ninety (90) days
Sears Layaway Program is available in Sears Full Line, Sears Hardware, Sears Grands and Sears Essential Stores (not available in Automotive, Dealer, Outlet Stores, or on Sears.com)
Must be In-Store Merchandise. Rain Check (merchandise on sale but out of stock) and special orders can be put on layaway only after the item arrives in the store. Some exclusions apply.
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

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.

SOURCE Sears, Roebuck and Co

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