Published: Thu, May 10, 2018
Economy | By Shawn Conner

Sears Holdings Corp Stock Surges on Amazon Tire News

Sears Holdings Corp Stock Surges on Amazon Tire News

Customers can order tires on Amazon and then have them shipped to a Sears Auto Center where they can be installed when they bring in their vehicle.

Sears Holdings Corp's new deal will have it handling tire installation and balancing for Amazon customers. The company also plans to make its Sears Auto Center locations a pick-up point for Amazon tire orders.

Information of this venture delivered Sears' inventory soaring up to 22 per cent in ancient trading. On Wednesday, the companies announced an extension of their relationship to now include tire delivery and installations. The service will be available across 47 Sears Auto Centers in cities such as Miami, Los Angeles and Dallas.

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A Sears spokesman spoke to CNBC and gave details on the process. Back in December Amazon started selling Sears' DieHard products such as jump starters and battery chargers. Sears will also now sell its DieHard auto tires on Amazon.com.

The spokesman said that there will be a standard installation fee paid to Sears. Sears' Kenmore appliances have also been available on Amazon since last July.

Sears is meanwhile on the lookout for tactics to monetize other assets, because its earnings are in a steep decline overall and the organization gets a lot more than $1 billion of credit card debt coming due within the calendar year, according to financial statements.

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Sears has been struggling to stay afloat for years, closing hundreds of stores as sales suffer in a challenging retail environment.

Sears CEO Eddie Lampert's hedge fund, ESL Investments, " has built a proposition to purchase Kenmore, Sears' homeimprovement firm, its PartsDirect division plus some of the chain's real estate. It has announced numerous store closings over the a year ago, and its stock has been consistently dipping.

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