TORONTO, Oct. 10 /CNW/ - Sears Canada Inc. (TSX: SCC) has extended its "Budget Relief Price Drops" program into its Scratch and Save Thanksgiving weekend promotion, a sale which applies to almost every item in the store. Sears has taken this action as a response to Canadians who are looking for ways to stretch their budgets during these uncertain economic times. Canadian consumer confidence is low. "Budget Relief Price Drops" is a program that has lowered prices on a great selection of merchandise aimed to demonstrate to customers that they are getting the best prices for apparel and home products without having to lower their standards of quality.

"Sears wants our customers to know that they can shop with confidence and are receiving exceptional value for their dollar," said Dene Rogers, President and Chief Executive Officer, Sears Canada Inc. "We believe that our latest round of price cuts show that Sears is seriously responding to Canadians who are looking for ways to stretch their household budgets."

In addition to apparel savings of up to 50% off Sears regular prices, Sears has introduced a new component to its Scratch and Save promotion this year which is that customers can save double the value of their scratch card savings for major appliances, furniture and mattress sets. Some conditions apply.

"Big ticket purchases can be especially stressful on a household budget," continued Mr. Rogers. "Doubling normal savings during this special promotion is a way Sears can help make purchases of this nature more affordable than ever."

With respect to prices at other retailers operating in Canada, Sears reminds customers of its Price Guarantee, which states that the Company will match any advertised price in Canada (some restrictions apply). Customers can find additional information and details at their local Sears store.

This release contains information which is forward-looking and is subject to important risks and uncertainties. Forward-looking information concerns the Company's future financial performance, business strategy, plans, goals and objectives. Factors which could cause actual results to differ materially from current expectations include, but are not limited to: the ability of the Company to successfully implement its cost reduction, productivity improvement and strategic initiatives and whether such initiatives will yield the expected benefits; the impact of the sale of the Company's Credit and Financial Services operations and the results achieved pursuant to the Company's long-term marketing and servicing alliance with JPMorgan Chase Bank, N.A.; general economic conditions; competitive conditions in the businesses in which the Company participates; changes in consumer spending; seasonal weather patterns; customer preference toward product offerings; changes in the Company's relationship with its suppliers; interest rate fluctuations and other changes in funding costs; fluctuations in foreign currency exchange rates; the possibility of negative investment returns in the Company's pension plan; the outcome of pending legal proceedings; and changes in laws, rules and regulations applicable to the Company. While the Company believes that its forecasts and assumptions are reasonable, results or events predicted in this forward-looking information may differ materially from actual results or events.

Sears Canada is a multi-channel retailer with a network of 197 corporate stores, 185 dealer stores, 45 home improvement showrooms, over 1,850 catalogue merchandise pick-up locations, 106 Sears Travel offices and a nationwide home maintenance, repair, and installation network. The Company also publishes Canada's most extensive general merchandise catalogue and offers shopping online at www.sears.ca.