Sears to sell Kenmore appliances on Amazon

By MarketsFOXBusiness

Sears stock up 25% due to Amazon effect

Sears stock rises as it launches its Kenmore products on Amazon.

Sears Holdings (NASDAQ:SHLD) announced on Thursday that it has begun selling its Kenmore appliances on (NASDAQ:AMZN), broadly expanding the exclusive brand’s availability.

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The retailer also said its line of Kenmore smart appliances are now integrated with Amazon’s Alexa digital assistant.

Shares rallied 16% to $10.07 in recent trading.

Like other Sears-owned brands, Kenmore was only available in select retailers. Sears offered Kenmore products in its namesake and Kmart stores, as well as Sears Hometown and Outlet Stores (NASDAQ:SHOS) and Ace Hardware.

“The launch of Kenmore products on will significantly expand the distribution and availability of the Kenmore brand in the U.S.,” said Sears Chairman and CEO Edward Lampert.

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The Amazon launch comes as Sears continues to explore strategic options for its Kenmore and DieHard brands. The struggling retailer already has a deal to sell Craftsman to Stanley Black & Decker (NYSE:SWK).

The sale of Kenmore appliances on Amazon, the world’s largest online retailer, could help Sears reverse a prolonged sales slump. Sears recently said it will close another 43 stores, mostly at Kmart, as it continues to shed unprofitable locations and reduce the size of others.

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