Sears promotes layaway through Dec. 23

-- Home Textiles Today, 11/13/2008 2:16:00 PM

Hoffman Estates, Ill. – With a range of stipulations, Sears will launch a 5-and-a-half-week holiday layaway program this Sunday, Nov. 16, with all purchases to be paid in full by Tuesday, Dec. 23.

“Not only did we hear feedback from our customers, but we saw the very positive response to our sister retailer's -- Kmart -- layaway program," said Don Hamblen, Sears chief marketing officer.

Layaway will be available in Sears full line and hardware stores – but not in automotive, dealer, or outlet stores, the company said.

Only in-store merchandise can be purchased on layaway, with a required down payment of the greater of $15 or 20%.

Other criteria:

• Excludes home electronics, home appliances, automotive merchandise, consumables, beer/wine, licensed business, gift cards and Doorbusters/Early Open Specials;

• $5 non-refundable service fee in all states except Maryland ($1);

• $10 cancellation fee will apply;

• Last day to add new layaways is Monday, Dec. 22.

The program does not affect Sears’ existing, six- and 12-month layaway program for fine jewelry.

Hamblen added that Sears will also start its Black Friday seasonal sale prices this weekend, rather than wait for the day after Thanksgiving.