KB Toys and Sears Extend Relationship
'KB Toys at Sears' Departments in 600 Sears Locations
KB Toys and Sears, Roebuck and Co. (NYSE: S) announced today that they have entered into a new agreement which will extend a relationship initiated in 2001 by expanding the "KB Toys at Sears" concept to 600 select Sears locations throughout the United States and Puerto Rico this holiday season.
The KB Toys "store-within-a-store," at Sears, which debuted as a 29-store test in 2001 and grew to 77 locations in 2002, will continue to offer Sears customers the convenience of one-stop shopping, a large selection of name brand toys and exclusive items, all value-priced. Each KB Toys at Sears will operate from mid-October through early January as part of the Christmas Shop. Additionally, both Sears and KB Toys retail channels will feature an expanded selection of "My First Craftsman™" tool toys and activity kits developed by KB Toys under a trademark license agreement signed last year.
"We are very excited about expanding our Christmas Shop to include toys this holiday season," said Jeff Rothe, vice president, Lawn and Garden for Sears. "Our customer has historically come to us for toys and we will now be able to offer her a broad assortment of popular items."
"We're thrilled to continue and grow our relationship with Sears and to provide Sears customers with an exciting merchandise selection this season," said Sal Vasta, executive vice president, Strategic Business Development for KB Toys. "The growth and success of this alliance is the result of both teams refining the KB Toys at Sears concept to provide customers with the best overall shopping experience."
For the second consecutive year, Sears and KB Toys are working together to present the Sears Wish Book® -- online and in its traditional catalog form -- to customers nationwide. The Sears Wish Book® now focuses solely on toys and video games, which are supplied and fulfilled exclusively by KB Toys. KB Toys will also continue to supply and fulfill the toy and video game assortments for sears.com.
This release contains forward-looking statements based on assumptions about the future that are subject to risks and uncertainties, such as competitive conditions in retail; changes in consumer confidence and spending; anticipated cash flow; general economic conditions and normal business uncertainty. While the company believes in a successful implementation of this relationship with KB Toys, it cautions that actual results may differ materially. The company intends these forward-looking statements to speak only as of the time of this presentation and does not undertake to update or revise them as more information becomes available.
About KB Toys
KB Toys is the nation's largest combined mall-based and online specialty toy retailer, operating more than 1,300 stores in all 50 states, the American Territory of Guam and the Commonwealth of Puerto Rico. KB Toys operates retail stores under the names KB Toys®, KB Toy Works®, KB Toy Outlet™, Toy Liquidators®, KB Toy Express® and offers online shopping through KBtoys.com™ ( www.kbtoys.com ) and eToys® ( www.etoys.com ). KB Toys, Inc., the parent corporation, is a privately held company headquartered in Pittsfield, Massachusetts.
About Sears Roebuck and Co.
Sears, Roebuck and Co. is a broadline retailer with significant service and credit businesses. In 2001, the company's annual revenue was more than $41 billion. The company offers its wide range of apparel, home and automotive products and services to families in the U.S. through Sears stores nationwide, including approximately 870 full-line stores. Sears also offers a variety of merchandise and services through its Web site, www.sears.com . In June 2002, Sears acquired Lands' End, a direct merchant of traditionally styled, classic Lands' End clothing offered to customers around the world through regular mailings of its specialty catalogs and online at www.landsend.com .
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SOURCE: Sears, Roebuck and Co.
CONTACT: John P. Reilly of KB Toys, +1-413-496-3427,
firstname.lastname@example.org , or Cory Rutt of Sears, Roebuck and Co., +1-847-286-2883,