UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(AMENDMENT NO. 2)*
Under the Securities Exchange Act of 1934*
Sears, Roebuck and Co.
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(Name of Issuer)
Common Stock, par value $0.75 per share
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(Title of Class of Securities)
812387-10-8
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(CUSIP Number)
June 30, 2003
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed: [ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Person Authorized to Receive Notices and Communications:
Janice V. Sharry, Esq.
Haynes and Boone, LLP
901 Main Street, Suite 3100
Dallas, Texas 75202
(214) 651-5562
SCHEDULE 13G
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CUSIP No. 812387-10-8 Page 2 of 11 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
ESL Partners, L.P., a Delaware limited partnership
22-2875193
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
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5 SOLE VOTING POWER
18,534,370
NUMBER OF -------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 18,534,370
-------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
31,100,000
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.1%
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12 TYPE OF REPORTING PERSON
PN
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CUSIP No. 812387-10-8 Page 3 of 11 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
ESL Limited, a Bermuda corporation
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OR ORGANIZATION
Bermuda
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5 SOLE VOTING POWER
2,319,114
NUMBER OF -------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 2,319,114
-------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
31,100,000
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.1%
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12 TYPE OF REPORTING PERSON
CO
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CUSIP No. 812387-10-8 Page 4 of 11 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
ESL Institutional Partners, L.P., a Delaware limited
partnership 06-1456821
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
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5 SOLE VOTING POWER
697,119
NUMBER OF -------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 697,119
-------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
31,100,000
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.1%
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12 TYPE OF REPORTING PERSON
PN
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CUSIP No. 812387-10-8 Page 5 of 11 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
ESL Investors, L.L.C., a Delaware limited liability company
13-4095958
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
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5 SOLE VOTING POWER
8,073,364
NUMBER OF -------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 8,073,364
-------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
31,100,000
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.1%
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12 TYPE OF REPORTING PERSON
OO
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CUSIP No. 812387-10-8 Page 6 of 11 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
KP I Partners, L.P., a Delaware limited partnership
86-1069224
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
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5 SOLE VOTING POWER
1,476,033
NUMBER OF -------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 1,476,033
-------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
31,100,000
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.1%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
PN
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CUSIP No. 812387-10-8 Page 7 of 11 Pages
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Item 1(a) Name of Issuer:
Sears, Roebuck and Co.
Item 1(b) Address of Issuer's Principal Executive Offices:
3333 Beverly Road
Hoffman Estates, IL 60179
Item 2(a) Names of Persons Filing:
ESL Partners, L.P.
ESL Limited
ESL Institutional Partners, L.P.
ESL Investors, L.L.C.
KP I Partners, L.P.
Item 2(b) Addresses of Principal Business Offices:
ESL Partners, L.P., ESL Institutional Partners, L.P.,
ESL Investors, L.L.C., and KP I Partners, L.P.:
200 Greenwich Avenue
Greenwich, CT 06830
ESL Limited
Hemisphere House
9 Church Street
Hamilton, Bermuda
Item 2(c) Citizenship:
ESL Partners, L.P. - Delaware
ESL Limited - Bermuda
ESL Institutional Partners, L.P. - Delaware
ESL Investors, L.L.C. - Delaware
KP I Partners, L.P. - Delaware
Item 2(d) Title of Class of Securities:
Common Stock, par value $0.75 per share
Item 2(e) CUSIP Number:
812387-10-8
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CUSIP No. 812387-10-8 Page 8 of 11 Pages
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Item 3 Status of Persons Filing:
(a) [ ] Broker or dealer registered under section 15 of the Act (15
U.S.C. 78o);
(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C.
78c);
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act
(15 U.S.C. 78c);
(d) [ ] Investment company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e) [ ] An investment adviser in accordance with Section
240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with
Section 240.13d-1(b)(1)(ii)(F);
(g) [ ] Aparent holding company or control person in accordance with
Section 240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j) [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(J).
Item 4 Ownership:
(a) Amount Beneficially Owned: 31,100,000 shares of Common Stock, par
value $0.75 per share.
This statement is filed on behalf of a group consisting of ESL
Partners, L.P., a Delaware limited partnership ("ESL"), ESL Limited,
a Bermuda corporation ("Limited"), ESL Institutional Partners, L.P.,
a Delaware limited partnership ("Institutional"), ESL Investors,
L.L.C., a Delaware limited liability company ("Investors"), and KP I
Partners, L.P., a Delaware limited partnership ("KPI"), sometimes
referred to collectively as the "ESL Reporting Group." The general
partner of ESL is RBS Partners, L.P. (the "General Partner"). The
general partner of the General Partner of ESL is ESL Investments,
Inc., a Delaware corporation. ESL Investment Management, LLC, a
Delaware limited liability company ("ESLIM"), is the investment
manager of Limited and the general partner of KPI. RBS Investment
Management, LLC, a Delaware limited liability company ("RBSIM"), is
the general partner of Institutional. RBS Partners, L.P. is the
manager of Investors. In the aforementioned capacities, ESL, Limited,
Institutional, Investors and KPI each may be deemed to be the
beneficial owner of the shares of Sears, Roebuck and Co. common stock
beneficially owned by the other members of the group.
As of June 30, 2003, (i) ESL was the record owner of 18,534,370
shares of common stock of Sears, Roebuck and Co.; (ii) Limited was
the record owner of 2,319,114 shares of common stock of Sears,
Roebuck and Co.; (iii) Institutional was the record owner of 697,119
shares of common stock of Sears, Roebuck and Co.; (iv) Investors was
the record owner of 8,073,364 shares of common stock of Sears,
Roebuck and Co.; and (v) KPI was the record owner of 1,476,033 shares
of common stock of Sears, Roebuck and Co.
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CUSIP No. 812387-10-8 Page 9 of 11 Pages
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(b) Percent of Class: 10.1%.
(c) Number of shares as to which each person has:
(i) sole power to vote or to direct the vote:
See Item 5 of each cover page.
(ii) shared power to vote or to direct the vote: 0.
(iii)sole power to dispose or to direct the disposition of:
See Item 7 of each cover page.
(iv) shared power to dispose or to direct the disposition of: 0.
Item 5 Ownership of 5% or Less of a Class:
Not applicable.
Item 6 Ownership of More than 5% on Behalf of Another Person:
Not applicable.
Item 7 Identification and Classification of the Subsidiary which Acquired
the Security Being Reported on By the Parent Holding Company:
Not applicable.
Item 8 Identification and Classification of Members of the Group:
See Item 4(a).
Item 9 Notice of Dissolution of Group:
Not applicable.
Item 10 Certification:
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were not
acquired and are not held in connection with or as a participant in
any transaction having that purpose or effect.
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CUSIP No. 812387-10-8 Page 10 of 11 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: July 2, 2003
ESL PARTNERS, L.P.
By: RBS Partners, L.P., its general partner
By: ESL Investments, Inc., its general partner
By: /s/ William C. Crowley
--------------------------------------
William C. Crowley
President and Chief Operating Officer
ESL LIMITED
By: ESL Investment Management, LLC,
its investment manager
By: /s/ William C. Crowley
--------------------------------------
William C. Crowley
Member
ESL INSTITUTIONAL PARTNERS, L.P.
By: RBS Investment Management, LLC,
its general partner
By: /s/ William C. Crowley
--------------------------------------
William C. Crowley
Member
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CUSIP No. 812387-10-8 Page 11 of 11 Pages
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ESL INVESTORS, L.L.C.
By: RBS Partners, L.P., its manager
By: ESL Investments, Inc., its general partner
By: /s/ William C. Crowley
--------------------------------------
William C. Crowley
President and Chief Operating Officer
KP I PARTNERS, L.P.
By: ESL Investment Management, LLC, its general
partner
By: /s/ William C. Crowley
--------------------------------------
William C. Crowley
Member
EXHIBITS
Exhibit 1 Joint Filing Agreement, dated as of June 30, 2003, entered into by
and among ESL Partners, L.P., ESL Limited, ESL Institutional
Partners, L.P., ESL Investors, L.L.C. and KP I Partners, L.P.
EXHIBIT 1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) promulgated under the Securities
Exchange Act of 1934, as amended, the persons named below agree to the joint
filing on behalf of each of them a Statement on Schedule 13G (including
amendments thereto) with regard to the common stock of Sears, Roebuck and Co.,
and further agree that this Joint Filing Agreement be included as an Exhibit to
such joint filings. In evidence thereof, the undersigned, being duly authorized,
hereby execute this Agreement as of June 30, 2003.
ESL PARTNERS, L.P.
By: RBS Partners, L.P., its general partner
By: ESL Investments, Inc., its general partner
By: /s/ William C. Crowley
--------------------------------------
William C. Crowley
President and Chief Operating Officer
ESL LIMITED
By: ESL Investment Management, LLC, its
investment manager
By: /s/ William C. Crowley
--------------------------------------
William C. Crowley
Member
ESL INSTITUTIONAL PARTNERS, L.P.
By: RBS Investment Management, LLC, its general
partner
By: /s/ William C. Crowley
--------------------------------------
William C. Crowley
Member
ESL INVESTORS, L.L.C.
By: RBS Partners, L.P., its manager
By: ESL Investments, Inc., its general partner
By: /s/ William C. Crowley
---------------------------------------
William C. Crowley
President and Chief Operating Officer
KP I PARTNERS, L.P.
By: ESL Investment Management, LLC, its general
partner
By: /s/ William C. Crowley
---------------------------------------
William C. Crowley
Member