I always thought they were made by Federal. But knowing how long Sears sold ammo it just could depend on when it was made. Different years maybe different contracts.
Federal made the one pictured. Federal made a lot of Sears ammo. Near rhe end on their ammo/gun sales days they did have shotgun ammo made my Winchester (Olin). I still have some of both lying around here somewhere.
When I was growing up (I'm 67) we would buy shells at Sears because they were made by Olin or Federal (Ted Williams brand), and other places that sold Olin(Winchester), Federal, or Remington/Peters.
From Federal's inception Sears and Montgomery Ward were their big customers. It took Federal quite some time to break Winchester's grasp on the market.
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