Sears to sell Kenmore products on Amazon

21 July, 2017, 00:58 | Author: Marjorie Miles
  • Sears says Kenmore products now available on Amazon; shares spike 13%

Sears will begin selling Kenmore appliances on Amazon.com, including smart appliances that can be synced with Amazon's voice assistant, Alexa. At around 11 a.m., Home Depot and Lowe's shares were down around 6 percent, while Best Buy was down more than 3 percent.

Smart appliances from Sears and its Kenmore brand are joining the list of hardware that can be used through voice commands to Amazon's Echo lineup of speakers and other Alexa-enabled devices.

This story is developing.

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Sears is trying to win back customers by going where seemingly all of them shop - on Amazon.

Park said Sears made the deal in order to expand its brand distribution and omnichannel retail strategy. Sears CEO Eddie Lampert was equally hopeful about the move, stating that it would "will significantly expand the distribution and availability of the Kenmore brand in the U.S." in a statement this morning.

The company said Thursday that it's struck a deal to sell its Kenmore appliance line on Amazon. The mall mainstay has fallen on hard times in recent decades as online retail has taken over - and now, the company is signing on with Amazon to sell its Kenmore brand through one of the key contributors to that on-going downside.

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The partnership would also offer Amazon an in-depth look into the home appliance business, giving it valuable data about the industry's operations, its pricing structures and seasonal fluctuations, analysts said. Sears will begin shipping a select assortment of Kenmore appliances next week in the Los Angeles market as an operational test, Tom Park, president of Kenmore, Craftsman and DieHard brands at Sears Holdings, told TWICE.

Sears has not turned a profit since 2010, and a year ago it reported losses of $2.2 billion.

On Thursday afternoon, shares of Sears were up about 10 percent to $9.60.

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Sears's woes have forced the company, which dates to the 19th century, to shutter more than 150 stores, including numerous Kmart outlets, this year in a move to cut costs.

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