Sears Canada Announces Sears Wish Book Price Reductions



    TORONTO, Nov. 16 /CNW/ - Sears Canada Inc. (TSX: SCC) announced today
that it is continuing to lower prices in response to the stronger Canadian
dollar. Today, Sears is extending its "Stronger Dollar - Lower Prices" program
to the popular Sears Wish Book, now in its 55th year and one of the most
famous icons of the Canadian Christmas season. This is in addition to the
broad price reductions in its retail stores announced earlier this month.
    "We know that Canadians await the arrival of the Sears Wish Book every
year with great anticipation as they begin to shop for the Holiday season,"
said Dene Rogers, President and Chief Executive Officer, Sears Canada Inc.
"The price reductions we are announcing today are another way for Sears to
show its customers that it is responding to the stronger dollar. Customers
have many ways to shop and we want to demonstrate that the Sears Wish Book now
offers additional values that allow Canadians to shop in Canada from a
retailer they know and trust."
    Some of the price reductions are on regular prices, and some are on
introductory offers that were already below Sears post-Christmas price. All
newly reduced prices will go into effect on Saturday, Nov. 17, 2007 until
Sunday, January 13, 2008. Sears is also introducing a free-shipping offer on
soft goods which will continue until the end of the year.
    Here are examples of the price-reduced items:

    
    Gifts for Him:
    --------------

    Chaps Fashions for Men:   Page 345:   Fisherman's Style Sweater, $59.50;
                                          Prev. 78.00; after Jan. 13: 88.00
                                          Shirts, $39.99; Prev. 45.00
                                          Zip-neck Sweater, $59.50;
                                          Prev. 78.00; after Jan. 13: 88.00

    Nike Baseball Cap:        Page 379:   12.59; Reg. 17.99

    Dockers "Professional"    Page 360    $49.99;
     Khaki Pants                          Prev. 59.99, After Jan. 13: 80.00


    Haggar Stretch Corduroy
     Pants                    Page 360    $49.99;
                                          Prev. 59.99, After Jan. 13: 75.00

    Gifts for Her:
    --------------

    Alia Embellished          Page 219    Missy Sizes $43.50; Prev. 58.00
     Tunic Top                            Women's Sizes $48.75; Prev. 65.00


    Robes with Matching       Page 301    Regular Sizes: $53.99;
     Slippers                             Prev. 62.99, After Jan. 13: 89.99
    (robes can be                         Plus Sizes $53.99;
     monogrammed)                         Prev. 69.99, After Jan. 13: 99.99

    Alpinetek Winterwear      Page 272    Ski Jacket: $89.99;
                                          Prev. 99.99 After Jan 13: 129.99
                                          Ski Pants 49.99; Prev. 69.99

    Jessica Lingerie          Page 314-   "Versailles" and "Starlight"
                                   315    Collections
                                          40% Off until Jan. 13;
                                          Prev. 20% Off

    Gifts for the Family and the Home:
    ----------------------------------

    Hot Paws Slippers         Page 476    Men's, Women's and Kids Sizes
                                          40% Off until Jan. 13;
                                          Prev. 25% Off

    Breville Die-cast
     Espresso Maker           Page 653    399.99, After Jan. 13: 449.99

    Royal Doulton             Page 546    $198.00,
     "Stephanie", including               Prev. 231.00, After Jan 13: 330.00
     "Special Friend",
     Figurine of the
     Year 2007

    Logostina Cookware Sets   Page 676    $224.99,
                                          Prev. 249.99, After Jan. 13: 499.99

    Hotel Boutique Bedding                50% Off until Jan. 13;
                                          Prev. 40% Off
    

    Sears has also reduced the price on several toys available in the Wish
Book. Some examples are the Matchbox Mega-Rig Construction Set (24.99, Prev.
29.99, page 1014), the Sandstorm Spider-Man 3 Playset (24.99, Prev. 29.99,
page 1013) and the Dash 'n' Smash Spider-Man 3 Playset (19.99, Prev. 24.99,
page 1013).
    All Sears Wish Book reduced items will be listed on the Company's website
at www.sears.ca beginning Nov. 17th. Click on the "Stronger Dollar - Lower
Prices" icon.
    The Company also continues to offer promotions under the "Stronger Dollar
- Lower Prices" program in its retail stores, and Sears encourages customers
to see its "Sears Card Weekend" flyer for additional offers available Saturday
and Sunday, Nov. 17 and 18th. This flyer is found on www.sears.ca. Click on
the "Department Store Flyer" box.
    With respect to prices at other retailers operating in Canada, Sears
reminds customers of its Price Match Guarantee, which states that the Company
will match any advertised price in Canada. Customers can find additional
information and details at their local Sears store, in the catalogue, and
online at www.sears.ca.

    This release contains information which is forward-looking and is subject
to important risks and uncertainties. Forward-looking information concerns the
Company's future financial performance, business strategy, plans, goals and
objectives. Factors which could cause actual results to differ materially from
current expectations include, but are not limited to: the ability of the
Company to successfully implement its cost reduction, productivity improvement
and strategic initiatives and whether such initiatives will yield the expected
benefits; the impact of the sale of the Company's Credit and Financial
Services operations and the results achieved pursuant to the Company's
long-term marketing and servicing alliance with JPMorgan Chase Bank, N.A.;
general economic conditions; competitive conditions in the businesses in which
the Company participates; changes in consumer spending; seasonal weather
patterns; customer preference toward product offerings; changes in the
Company's relationship with its suppliers; interest rate fluctuations and
other changes in funding costs; fluctuations in foreign currency exchange
rates; the possibility of negative investment returns in the Company's pension
plan; the outcome of pending legal proceedings; and changes in laws, rules and
regulations applicable to the Company. While the Company believes that its
forecasts and assumptions are reasonable, results or events predicted in this
forward-looking information may differ materially from actual results or
events. The Company intends the forward-looking information to speak only as
of the time made and does not undertake to update or revise this information
except as may be required by law.

    Sears Canada is a multi-channel retailer with a network of 196 corporate
stores, 179 dealer stores, 61 home improvement showrooms, over 1,800 catalogue
merchandise pick-up locations, 106 Sears Travel offices and a nationwide home
maintenance, repair, and installation network. The Company also publishes
Canada's most extensive general merchandise catalogue and offers shopping
online at www.sears.ca.





For further information:

For further information: Contact for Media: Vincent Power, Sears Canada,
Corporate Communications, (416) 941-4422, vpower@sears.ca


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