Sears Announces First-Ever Multiple-Transaction Deferred Payment Program

    Starts Saturday on almost everything in the store!

    TORONTO, Dec. 7 /CNW/ - Sears Canada Inc. (TSX: SCC) announced today that
it is adding to its "Stronger Dollar - Lower Prices" program by offering a
special No-Payment offer to customers which allows them to defer payment on
purchases totaling $300 or more until April, 2008. This includes all men's,
women's and children's apparel, footwear and accessories, cosmetics and
fragrances, home décor, bed & bath, housewares, home electronics, fitness
equipment, Christmas trees and decorations, hardware, outdoor power equipment,
and toys.
    "Our 'Stronger Dollar - Lower Prices' program has helped customers
discover the advantages of shopping in Canada during the Holiday period," said
Dene Rogers, President and CEO, Sears Canada Inc. "This new enhancement will
now give Canadians yet another reason to shop in Canada and spend their
dollars at home, helping to make Canada's economy stronger. The deferred
payment program will really help our customers to pay for their Christmas
shopping. This is a first, where customers can defer $300 and accumulate that
amount over multiple transactions during the course of a day. It means not
impeding their shopping day by forcing them to carry around their various
purchases in order that they be on the same transaction."
    Sears department stores, Sears Home stores, Dealer stores and Outlet
stores are all participating in the No-Payment Until April 2008 event. At the
checkout desks, Customers wanting to defer payment on their purchases may do
so upon request each time they proceed through the checkout process. Purchases
made on the same day, on a Sears Card or Sears MasterCard, will be
accumulated, and the payment for a minimum purchase of $300 at the end of that
day on the same Card across the eligible categories can be deferred until
April, 2008. Full details are in-store.
    "We have made this program straightforward for our customers," continued
Mr. Rogers. "There is no fee for customers who choose to defer their payments
until April, 2008, and the minimum $300 purchase includes taxes. Plus,
customers can earn Sears Club or Sears MasterCard Colours points on their
    Sears is also offering a similar No-Payment enhancement for catalogue and
online purchases. Details can be found online at
    The Company also reminded customers today that its popular Sears Days
promotion ends this coming Sunday, December 9, 2007, and contains many items
identified under the Company's "Stronger Dollar - Lower Value" program. Some
examples include:

    Zenith Home Theatre System                $89.99, Reg. 199.99
    Prima 32" LCD HD Compatible TV            $599.99, Reg. 899.99
    Craftsman 50-piece Screwdriver Set        $19.99, Reg. 79.99
    Martha Stewart Duck Feather Pillow        $9.99, Reg. 19.99
    VTech 'V-Smile' TV Learning System        $39.99, Reg. 54.99
    'Snow Flite' Snow Carpet                  $1.88, Reg. 4.99
    Van Heusen Dress Shirts                   $19.99, Reg. 39.99
    Van Heusen Ties                           $14.99, Reg. 29.99
    Men's Levis 501 Denim Jeans               $36.99, Reg. 74.99
    Givenchy Men's and Women's Fragrances     $45.00-$85.00

    The "Stronger Dollar - Lower Prices" program will continue through the
month of December, in response to the increased value of the Canadian dollar
vs. the U.S. dollar. It is intended to demonstrate to Canadians that shopping
in Canada can provide the values they expect with respect to a stronger
    As far as 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

    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

For further information:

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

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