Sears Introduces Buyer Protection for Home Appliances

HOFFMAN ESTATES, IL--(Marketwire - July 6, 2009) - Sears (NASDAQ: SHLD), the nation's leading appliance retailer, is giving consumers one more reason to shop Sears first for their appliances, with the introduction of the "Sears Buyer Protection(SM) Program" -- the only program of its kind made available among national major home appliance retailers. The Sears Buyer Protection Program, available July 6, 2009 through August 1, 2009, will cover major appliance purchases over $399 when purchased with your Sears card if the accountholder loses his or her job. The program even covers the cost of service agreements, installation, delivery and more if those items were purchased with the appliance. "The beauty of this program is it's absolutely free with your Sears card," said Kevin Brown, vice president and chief marketing officer for home appliances at Sears. "Our customers have told us that even with the Sears best price guarantee, they have been deferring much-needed appliance purchases. With Sears' Buyer Protection Program, customers can move forward with confidence and make a purchase knowing that if something unforeseen happens with a job, the Sears Buyer Protection Program will credit their Sears account for that purchase and allow them to keep the appliance," Brown said. "This is available for all home appliance brands carried at Sears, which has the nation's best selection of appliance brands. That includes LG, Samsung, Whirlpool, G.E. and America's number one appliance brand -- Kenmore."

How it Works

If a customer purchases a major home appliance over $399 with a Citibank-issued Sears card and loses his/her full-time job after 60 days and up to 1 year from the date of the purchase, 1/12th of the purchase price will be credited to the account each month that the customer is unemployed. This credit covers the appliance and related accessories, extended warranties, maintenance agreements, protection and service agreements, delivery haul-away, installation and sales tax. If the customer is still unemployed one year after the purchase, they will receive a credit to their account for the remaining purchase amount. The customer keeps the appliance and will owe nothing on that purchase. The customer can make their purchase at a Sears store or at Excludes Sears Outlets and The Great Indoors. Not available to residents that have a billing address or make a purchase in Puerto Rico and Guam.