Sears to Pay $985,000 to Settle Battery Case

Sears, Roebuck & Co., the largest U.S. department store company, agreed to pay $985,000 to settle allegations by the Florida attorney general that it sold used auto batteries from Exide Corp. as new. Sears, without admitting wrongdoing, also agreed to add five months to the free-replacement warranties it offers on Exide batteries it sold before April 1. Sears, based in Hoffman Estates, Ill., said it settled to avoid the time and expense of litigation. Exide, the world’s largest maker of car batteries, remains the target of an investigation by the Florida attorney general into whether it sold defective, used and mislabeled batteries in the state. Exide spokesman Bruce Boyle said he had not been aware of the settlement until contacted by a reporter; he had no immediate comment. Exide, based in Reading, Pa., was the principal supplier of car batteries to Sears from April 1994 until last month. In New York Stock Exchange trading, Sears shares fell 31 cents to close at $44.31; Exide shares rose 13 cents to close at $11.13.