They USED TO warranty EVERYTHING for life, even power tools. Used to be that you’d crack the housing of a saw or the tub of your shop vac would break before motors died, for instance. They’d either give you a new saw, help you replace the house, replace the shop vac tub, or give you a new one out of the box. Now you’ll be lucky to get a year out of a drill/driver.
As far as their hand tools, even those aren’t specifically warrantied anymore. I snapped a 1/4” combination wrench in half trying to turn a rusted bolt off my work bench a year ago. I took it to the local Sears, and their answer was, “Well, we can sell you a new set with that size in it, but I can’t just GIVE you a new 1/4” combo wrench.”
I still have that set of Sears combo wrenches in my box, but I bought a set of Kobalt combo wrenches that took that stubborn 1/4” nut right off my work bench without so much as bending.
I’ll keep what I have and use it until it’s junk, but I’m not going back to Sears for power tools.
Sears at Citrus Park Mall still replaces hand tools, or did last time I needed it (a year or two?).