Sears strikes partnership to install tires sold through Amazon

Sears strikes partnership to install tires sold through Amazon

Sears strikes partnership to install tires sold through Amazon

The company says the service will be rolling out to customers across the US over the coming weeks.

Sears (SHLD) stock jumped after the discount retailer expanded its alliance with online retail behemoth Amazon.com (AMZN) to offer full-service tire installation.

CNBC reports that Amazon and Sears will begin working together on tire sales.

Sears also announced that its DieHard brand tires would be sold on Amazon for the first time, though its auto centers will install any type of tire purchased on Amazon's website. The shares were up 17.0 percent at $3.23 in afternoon trading. After the initial launch the service is expected to quickly expand throughout Sears Auto Centers' more than 400 locations. During the ordering process, there is an option to choose to have the tires shipped to the location and have them installed there.

The retailer branded the initiative as an expansion of its relationship with Amazon.

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The customer then has to choose three times in which the installation can be done.

Under the new partnership with Amazon, which Lampert said is "small but growing", Sears will expand its DieHard products available on Amazon to include DieHard tires. Back in July 2017, Sears announced that it would sell Kenmore appliances on Amazon.

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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In an site post Wednesday, prior to Sears' investors meeting, Lampert stated: "We're still not where we will need certainly to be, and Sears has been face critical challenges in a tough retail environment".

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