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Sears to Sell Clothing on Its Web Site

September 26, 2003|From Bloomberg News

Sears, Roebuck & Co., which bought catalog and Internet retailer Lands' End last year, will begin selling clothing on its Sears.com Web site by the end of 2004 as the company seeks to boost sales.

Sears also has redesigned its Internet site to offer customers more information on appliances and electronics, Chief Executive Alan Lacy said during a National Retail Federation conference. Sears runs the Lands' End Internet site separately.

Sears, based in Hoffman Estates, Ill., is trying to revive sales as it prepares to sell its credit-card unit, which accounts for more than half of its profit. The Lands' End purchase included call centers and distribution facilities that can handle online clothing sales, said Bill Bass, who oversees Internet and catalog operations for Lands' End and Sears.

Sears bought Lands' End in June 2002 for $1.8 billion.

Shares of Sears fell 59 cents to $45.14 on the New York Stock Exchange.

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