Sears Holdings Statement in Support of the Marketplace Equity Act

HOFFMAN ESTATES, Ill., Nov. 10, 2011 /PRNewswire/ -- Sears Holdings Corporation (NASDAQ: SHLD), parent company of Sears Roebuck and Co., Kmart and Lands' End, today expressed support for S. 1832, the Marketplace Equity Act, introduced by U.S. Sens. Enzi, Alexander and Durbin.  The legislation will level the sales tax collection playing field for local businesses by granting the states authority to enforce existing laws and require out-of-state, online-only retailers to collect and remit sales taxes on sales made to state residents.

In a statement released today, the company said:

"This bill will level the sales tax collection playing field for all retailers and we commend the efforts of Sens. Enzi, Alexander and Durbin and the seven other cosponsors of the legislation.  The support of these senators shows that there is strong bipartisan support in the U.S. Congress to level the sales tax collection playing field for all retailers.  Although many customers don't realize it, under current law, they have an obligation to pay taxes on all purchases.  Most retailers calculate and collect the tax at the point of sale, as required by law.  However, online-only merchants currently do not have to collect the tax broadly, leaving the customer with the responsibility of saving receipts and filing and paying use taxes for those purchases on their state income tax returns. This bill closes a loophole that has given a significant and unfair competitive advantage to a handful of online-only retailers, while hurting those that create jobs and invest in local communities.

We are grateful for the leadership shown by Sens. Enzi, Alexander and Durbin, and look forward to working with them to get this legislation enacted."

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® 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 Sears, Roebuck and Co. and Kmart Corporation.  For more information, visit Sears Holdings' website at www.searsholdings.com. Twitter: @searsholdings | | Facebook: http://www.facebook.com/SHCCareers

NEWS MEDIA CONTACT:
Sears Holdings Public Relations
(847) 286-8371

SOURCE Sears Holdings Corporation