Published: Fri, July 21, 2017
Markets | By Erika Turner

As Sears And Kmart Shrink, Amazon Grows

As Sears And Kmart Shrink, Amazon Grows

Kenmore smart air conditioners that are integrated with Alexa are available on Amazon now, and more products are on the way, the company said.

The Sears deal delivers another bit of interesting news as well, with Sears' reluctant shuffling into the 21st century bringing Alexa skills to Kenmore appliances, including air conditioners - functionality that GE brought to its own appliances earlier in the years.

The announcement comes just three weeks after Nike said it would begin selling its products directly through Amazon, joining a number of big-name companies including Samsung, Microsoft and Bose in doing business on the site.

Add Sears to the growing list of retailers inking deals with Amazon.

"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.

Hyperloop approved between NYC and DC, says Elon Musk
On its website the Boring Company says that such tunnels "would also make Hyperloop adoption viable". Musk then changed his Twitter bio to include: "Tunnels (yes, tunnels)".

Sears announced the Amazon launch in a press release Thursday.

Sears' stock pared some of the early gains but was still up 14 percent, on track for its best day in about four months.

The retailer has shed more than $1 billion in costs through store closures and other measures and recently sold its Craftsman brand to Stanley Black & Decker for the equivalent of $900 million.

The company's Sears Home Services and Innovel Solutions units will supply service for delivery, installation, and extended product protection for Kenmore products sold on Amazon.

The move, nevertheless, underscores the broader trend of store-based retailers increasingly looking to sell more online. Home Depot shares plunged 4.5%, Lowe's were down 6.4%, and Whirlpool, which makes competing products to Sears' Kenmore line, was down 4.2%. But the announcement fits in with Sears' effort to generate cash from its Kenmore, Craftsman and DieHard brands by widening distribution outside its stores since a year ago.

Like this: