Sears announced Thursday that it will begin selling its full line of Kenmore-brand appliances online through Amazon.
Sears fights retail woes with e-commerce strategy
The retailer, which has been struggling the past few years and has closed stores across the country, saw an 8% jump in the price of its stock in pre-market trading on the announcement.
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“We continuously look for opportunities to enhance the reach of our iconic brands to more customers and create additional value from our assets,” Sears CEO Eddie Lampert said in a statement.
Sears Holdings announced earlier this month that it would be closing an additional 35 Kmart stores and eight Sears locations across the country. The company had already announced the closing of more than 300 Kmarts and Sears locations since January.
“This collaboration is the first of its kind for Kenmore, broadening its accessibility to the next generation of American families outside of Sears branded retail channels,” Tom Park, president of the Kenmore, Craftsman and DieHard brands at Sears said.