Sears shares soar on tire-service deal with Amazon
10 May, 2018, 14:10 | Author: Barbara Daniel
The shares were up 17.0 percent at $3.23 in afternoon trading. On Wednesday, the companies announced an extension of their relationship to now include tire delivery and installations.
"Amazon.com customers can expect terrific performance and reliability from DieHard tires and professional installation from Sears Auto Centers".
Meanwhile, Sears stock has jumped 20% on news of this Amazon partnership. This means that customers can buy tires on Amazon and have them shipped to their local Sears Auto Center for installation.
The client then gives 3 appointment times which can be convenient for the installment.
With any other appointment, there will be a "conventional installment price" paid to Sears that covers installation, balancing, under hood/under auto evaluation, a road safety evaluation and also other precautionary techniques, " the spokesman claimed.
"Kenmore is distributed nationwide on Amazon with in excess of 250 services and products and we are surpassing customer support degree expectations", Tom Park, president of Kenmore, Craftsman and DieHard makes in Sears Holdings, said in a statement. "We need to convert our vision into reality", Lampert said at the annual shareholders' meeting at Sears' headquarters in the Chicago suburb of Hoffman Estates. Under the new deal, Amazon.com will sell DieHard passenger tires as well. Last year, Amazon started selling Sears' Kenmore brand of appliances such as ovens and washing machines as well as DieHard vehicle batteries. Free for 14 days - no credit card required!
After warning about Sears' ability to continue as a going concern a year ago, Lampert infused the company with cash, and last month said his hedge fund, ESL, would be interested in acquiring Sears' real estate, including its $1.2 billion in debt, Kenmore appliances brand and parts of its home services business.
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