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Shopping for New Home Appliances? Think Sears Layaway

   Sears Adds Home Appliances to its Layaway Program; Announces Plans to
                            Extend Layaway Terms

    HOFFMAN ESTATES, Ill., June 23 /PRNewswire/ -- In an ongoing effort to
help its customers, Sears is extending its layaway program to include home
appliances for the very first time. The announcement comes on the heels of
the government's "Cash for Appliances" stimulus plan, which is winding down
and offers cash rebates to consumers for purchasing EPA-certified, ENERGY
STAR? qualified appliances.

    "For customers who haven't taken advantage of the government rebate
program, Sears' layaway presents the opportunity to purchase more efficient
appliances, while managing their budget," said Susan Ehrlich, president,
Financial Services, Sears Holdings. "Having been recognized as the 2010
ENERGY STAR Retail Partner of the Year, we continue to help American homes
become more energy-efficient. Programs such as layaway offer a smart
solution by making big-ticket items more affordable."

    According to Ehrlich, offering layaway for appliances comes as shoppers
look for smarter ways to save money and better manage their family budget.
"Layaway helps shoppers budget their purchases into four easy payments over
an eight-week period - all for as low as $5 initiation fee," she said.

    According to a recent national survey conducted by Sears, more than 33
percent of people said they would consider using layaway for home appliance
purchases. "Our customer spoke, so we listened," said Susan Ehrlich.
"Launching layaway for home appliances is just part of Sears' ongoing
commitment to offering its customers innovative ways to shop. Whether
they're preparing for a home renovation or simply updating to
energy-efficient models, purchasing home appliances on layaway makes
shopping easier, more affordable and interest free."

    Consumers can use Sears' layaway year round for every shopping
occasion. A down payment of $15 or 20 percent is required at the start of
the contract; bi-weekly payments are then made for the length of the
contract. The initiation fee on all new layaway contracts is just $5.
Consumers can also visit http://www.sears.com/layaway to shop using online layaway
and manage payments. Cancellation fees may apply.

    Sears also announced plans to roll out an extended layaway program
which will give shoppers more time to complete payment on contracts. The
extended layaway program will launch in stores this fall.

    In addition to Sears' layaway program, Sears recently launched "The Big
Switch", an initiative helping families make the switch to five million
ENERGY STAR qualified appliances. The goal is to help families remove and
recycle millions of inefficient appliances from the energy grid for good,
which could help them save more than $2,500 on their utility bills. For
more information, go to http://www.searsbigswitch.com.

    About Sears, Roebuck and Co.

    Sears, Roebuck and Co., a wholly owned subsidiary of Sears Holdings
Corporation (Nasdaq: SHLD), is a leading broadline retailer providing
merchandise and related services. Sears, Roebuck offers its wide range of
home merchandise, apparel and automotive products and services through more
than 2,300 Sears-branded and affiliated stores in the United States and
Canada, which includes approximately 929 full-line and approximately 1,200
specialty stores in the U.S. Sears, Roebuck also offers a variety of
merchandise and services through sears.com, landsend.com, and specialty
catalogs. Sears, Roebuck offers consumers leading proprietary brands
including Kenmore, Craftsman, DieHard and Lands' End -- among the most
trusted and preferred brands in the U.S. Sears, Roebuck is the 2010 ENERGY
STAR Retail Partner of the Year. The company is the nation's largest
provider of home services, with more than 12 million service calls made
annually. For more information, visit the Sears, Roebuck website at
http://www.sears.com or the Sears Holdings Corporation website at
http://www.searsholdings.com.

    About Sears Home Appliances

    Sears is the nation's leading appliance retailer with the largest
selection - over 4400 models. Only Sears sells the top 10 brands, including
Kenmore, the nation's leading appliance brand. Sears always beats the
competition's price, guaranteed, up to 30 days. Sears offers worry-free
1-year service, guaranteed and free help and support on all brands serviced
by Sears 24/7 by phone. Sears provides next day delivery on over 1600
models - that's five times more than any national competitor. In March
2009, Sears launched the online ENERGY STAR Rebate Center - a program to
help educate Americans about the millions of dollars in rebates that are
available for ENERGY STAR-rated products and make it faster to receive
these rebates. Sears has demonstrated its commitment to increasing
America's energy efficiency through its actions over more than 10 years.

    Sears sells more ENERGY STAR-rated appliances than any other retailer.
In fact, in 2008, Sears was the first retailer to sell more than 3.1
million ENERGY STAR-qualified appliances from the nation's top brands,
including Kenmore, the nation's leading appliance brand. In 2008 alone,
Kenmore ENERGY STAR-rated appliances helped save America nearly 700 million
Kilowatt hours, over four billion gallons of water, and over $100 million
dollars.

    *National Omnibus Survey, Synovate, April 2010.


SOURCE Sears, Roebuck and Co.

 

 
Web site: http://www.sears.com

  

 
Company News On Call: http://www.prnewswire.com/comp/923204.html

  

 
CONTACT: Shannelle Armstrong of Sears Holdings Corporation,
 +1-847-286-0715, shannelle.armstrong@searshc.com; or Deanna
 Killackey of JSH&A Public Relations, +1-630-932-7927,
 deanna@jsha.com, for Sears