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undergroundnewsroom.com May 27, 2018


Sears pops after getting cozier with Amazon

10 May 2018, 02:12 | Gordon Grant

Sears stock is skyrocketing on news of a new Amazon partnership

Sears pops after getting cozier with Amazon

Embattled retailer Sears announced on Wednesday that it was teaming up with e-commerce giant Amazon on a customer service venture to help service vehicles, which sent Sears shares surging approximately 20%.

Over the past year, Amazon has entered into partnerships with physical chains such as department store operator Kohl's Corp to sell Amazon-branded items as well as use its retail locations for picking up online orders.

Sears Auto Centers will install and balance any brand of tires purchased on Amazon.com, including Sears' own DieHard brand. The news of the partnership raised Sears stocks by 22 percent earlier in the day.

The move is the latest pragmatic concession by a large traditional retailer to the reality of Amazon's strength in retail now: last month Best Buy bby announced a deal to sell sell televisions that run on Amazon's new Fire TV operating system, while Kohl's kss has been testing handling returns for Amazon and selling its gadgets in its stores.

The service will roll out in coming weeks. Sears Auto Centers then contacts them to confirm their appointment.

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Sears said the service will roll out to its vehicle service centers nationwide over the next couple weeks. 47 locations will first offer the service but the plans are to have it available on more than 400. The process begins with the customer ordering the tire he or she wants. The shipment is done by the online retailer, with Sears just taking care of the installation.

Sears traded up more than 16 percent to $3.20 at time of publication.

The business said it's about 2,100 specialists in its Automobile Centers across the country to perform bicycle installations. As part of the buying experience, Amazon's customers will also be able to book a time and date for the tire installations.

Sears first partnered with Amazon.com to sell Kenmore appliances on the site in July of previous year. "We're thrilled to expand our assortment of this iconic brand to include passenger tires on Amazon.com". The DieHard brand offers products such as auto batteries and tires.

Amazon.com, Inc. shares were trading at $1,604.95 per share on Wednesday afternoon, up $12.56 (+0.79%).



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