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Principale » Sears to sell Kenmore appliances on Amazon; shares jump

Sears to sell Kenmore appliances on Amazon; shares jump

20 Juillet 2017

(AMZN), including a new line of Kenmore Smart appliances featuring Amazon's Alexa.

The deal comes after a string of troubles for Sears, which has lost ground to rivals ranging from Walmart to Amazon.com and has relied on a combination of asset sales such as its Land's End clothing and Craftsman tool lines as financial lifelines. That means the company's air conditioners and other devices will respond to voice commands.

"The launch of Kenmore products on Amazon.com will significantly expand the distribution and availability of the Kenmore brand in the U.S.", Sears Chief Executive Officer Eddie Lampert said in a statement. Terms of the agreement weren't disclosed.

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A Labor Department official said there were no special factors influencing the claims data and that no states had been estimated. Still, these so-called continuing claims have been under 2 million for 15 straight weeks, a feat that last occurred in 1973.

The announcement before the opening bell Thursday sent shares of Sears soaring more than 20 percent.

Sears is making big gains Thursday morning, up 22.70% in premarket trading Thursday, after announcing it would begin selling its Kenmore appliances on Amazon.

Sears to sell Kenmore appliances on Amazon; shares jump