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Notes to Consolidated Financial Statements

 

NOTE >11 > OTHER INCOME

In 1997, the Company sold its 30% equity interest in Advantis, a joint venture between IBM and the Company, to IBM. This transaction resulted in a pretax gain of $150 million and is recorded in other income.

Also in 1997, the Company completed the sale of 60% of the outstanding shares of Sears, Roebuck de Mexico, S.A. de C.V. to Grupo Carso S.A. de C.V. The sale resulted in a pretax loss of $21 million and is reflected in other income.


  Annual Report 1999 

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1999 Sears, Roebuck and Co. - www.sears.com