Sears Goes To Amazon In Search Of A Lifeline

Sears Goes To Amazon In Search Of A Lifeline

In February, Sears inked a deal to allow California-based Permasteel to manufacture Kenmore grills for distribution at retailers nationwide, and Ace Hardware sells Kenmore water heaters and softeners. The retailer will also sell Alexa-enabled Kenmore air conditioner units on the e-commerce platform, the Tribune reports.

Shares of Whirlpool have dropped 2.6% to $193.22 at 9:50 a.m. today, while Home Depot has tumbled 3.5% to $147.94, Lowe's has slumped 3.3% to $74.29, Sears Holdings has jumped 19% to $10.29, and Amazon.com has risen 0.7% to $1,033.85.

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Sears Holdings Corp. said Thursday that it has launched Kenmore appliances on Amazon.com Inc., including Alexa-enabled smart appliances.

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Lampert says the move will "significantly expand" the availability of Kenmore appliances to US consumers. "Voice is a natural interface for the smart home", Charlie Kindel, Director of Alexa Smart Home said of the integration, "so we're thrilled that customers can now simply ask Alexa to interact with their Kenmore Smart appliances". So far this year, the company has announced the closure of more than 260 Kmart and Sears stores. Now, the iconic retailer has made a decision to partner with the online giant. The period was boosted by the March sale of Craftsman to Stanley Black & Decker for $525 million. However, even if you buy an appliance through Amazon rather than at a Sears location, the company will still offer its own delivery and installation services. The chain has considering selling additional lines, including its DieHard auto batteries and Kenmore appliances businesses, and is unloading its vast real estate holdings.

The deal gives Sears a chance to restore its relevance while also affording Amazon a new offering in the market for appliances. In its last quarter, Sears notched its first profit since 2015, reporting net income of $244 million on revenue of $4.3 billion, compared with a loss of $471 million on sales of $5.4 billion in the year-ago quarter.

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