FACTBOX: Retailer promotions for tax rebates

(Reuters) - Treasury Secretary Henry Paulson has said the Treasury is accelerating its schedule for distribution of tax rebate checks under a $152 billion economic stimulus package, sending out the first payments on Monday instead of in early May.

The tax rebate checks, part of a broader $168 billion economic stimulus package signed by President Bush on February 13, pay up to $600 for individuals and $1,200 per married couple. An additional $300 per child will go to families with kids.

The rebates are coming at a time of faltering retail sales and profits as shoppers, facing higher food and fuel costs, and the slumping housing market, have clamped down on spending.

Some large U.S. retailers have announced promotions and special marketing campaigns to lure the extra money hitting consumers' pockets soon. Some of these plans are:

KROGER: Beginning May 2, grocery-store chain Kroger Co (KR.N: Quote, Profile, Research) will give customers free groceries through a gift card program. The program allows Kroger customers to exchange their tax refund or economic stimulus checks for a Kroger gift card with an extra $30.00, $60.00 or $120.00 added to it. When a customer loads his $600 rebate check onto a Kroger gift card he gets a credit of $660, or 10 percent extra.

RADIOSHACK: RadioShack (RSH.N: Quote, Profile, Research) is offering a 10-percent discount on purchases of $50 or more when a stimulus check or IRS tax refund is used as payment.

SEARS HOLDINGS: Sears Holdings (SHLD.O: Quote, Profile, Research), which includes Sears and Kmart, has a rewards program under which customers who bring their stimulus checks to a Sears or Kmart cash register can convert the amount of the check into gift cards, plus receive a bonus gift card worth an additional 10 percent. These gift cards can be redeemed at any Sears, Kmart or Lands' End retail stores.

STAPLES: Office supply retailer Staples Inc (SPLS.O: Quote, Profile, Research) has a "Staples Economic Stimulus Center" on its Web site that provides information about the Economic Stimulus Act as well as tips to find savings.

SUPERVALU: Grocery retailer Supervalu Inc (SVU.N: Quote, Profile, Research), owner of Albertsons and other supermarket chains, has said shoppers can exchange their economic stimulus or tax refund checks for a store gift card loaded with extra money. Under the offer valid from May 2 through July 31, customers can redeem their checks for store gift cards in $300 increments, and stores will add an extra $30 to each card.

HOME DEPOT: Home improvement retailer Home Depot Inc (HD.N: Quote, Profile, Research) plans to encourage consumers to spend the refund checks on energy-efficient products, with promotions on compact florescent lightbulbs and Energy Star appliances, starting in May. Source: Reuters; here; here here here (Compiled by Jijo Jacob)