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HOFFMAN ESTATES, Ill., Aug. 23, 2011 /PRNewswire/ -- A recent survey, conducted by the National Retail Federation (NRF) and BIGresearch*, found that four out of five respondents think that the economy will impact their back-to-campus spending (83.7 percent). To help students manage their school year budget and simplify their shopping experience, Sears and Kmart have expanded their online layaway plans to make going back to class a breeze. New technology available on and allows college students and their parents to shop online and stretch their payments out over time. What's more, parents and students can now pick up their online layaway items at a Sears or Kmart store nearest their college campus to ease moving hassles and avoid added costs of shipping supplies.

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"At Sears and Kmart, we aim to give college students quality products, services and shopping solutions while maintaining sensible affordability," said Salima Yala, divisional vice president, Layaway, Sears Holdings. "The opportunity to help students and their families cut costs and make smart decisions lets them know that, as a customer, they can count on Sears and Kmart for their shopping needs."

This year, parents and students also report that advanced planning and online shopping tools help in maximizing budgets and facilitating the transition back to campus. According to the same NRF survey, approximately 53 percent of back-to-campus shoppers will head to a mass merchant retailer to source items such as bedding, mini refrigerators and electronics. Students will also take inventory of what they already have and use online shopping tools, such as layaway, to stretch their budget and find good deals to round out their school needs. 聽

Layaway at Sears or Kmart is available year round and allows shoppers to purchase items using an eight- or 12-week payment plan. Following a $15 or 10 percent down payment, bi-weekly payments are made for the length of the contract. The initiation fee on all new layaway contracts is just $5. Busy consumers can also visit or to shop using online layaway and manage payments. Cancellation fees may apply.

About Sears Holdings Corporation

Sears Holdings Corporation is the nation's fourth largest broadline retailer with over 4,000 full-line and specialty retail stores in the United States and Canada. Sears Holdings is the leading home appliance retailer as well as a leader in tools, lawn and garden, consumer electronics and automotive repair and maintenance. Sears Holdings is the 2011 ENERGY STAR庐 Retail Partner of the Year. Key proprietary brands include Kenmore, Craftsman and DieHard, and a broad apparel offering, including such well-known labels as Lands' End, Jaclyn Smith and Joe Boxer, as well as the Apostrophe and Covington brands. It also has the Country Living collection, which is offered by Sears and Kmart. We are the nation's largest provider of home services, with more than 11 million service calls made annually. Sears Holdings Corporation operates through its subsidiaries, including and . For more information, visit Sears Holdings' website at .

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SOURCE Sears Holdings Corporation