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Sears Jumps After Deal to Sell Appliances on Amazon

In addition to offering Kenmore products on Amazon, Sears will integrate its smart appliances with Alexa, so air conditioners and other devices will respond to voice commands.
A Sears store | Source: Shutterstock
By
  • Bloomberg

NEW YORK, United States — Sears Holdings Corp. climbed as much as 15 percent in early trading after announcing plans to sell its Kenmore appliances on Amazon.com, a reassuring sign for a retailer that's been rattled by e-commerce upheaval.

In addition to offering the Kenmore lineup on Amazon’s site, Sears will integrate its smart appliances with Alexa -- the tech giant’s speech-activated assistant. That means the company’s air conditioners and other devices will respond to voice commands. Terms of the agreement weren’t disclosed.

“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.

The announcement sent the shares up as high as $10. The stock had been down 6.6 percent to $8.68 this year through Wednesday’s close.

By Nick Turner.

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