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Sent: Tue, Aug 28, 2018 9:25 am
Subject: FW: (BN) Sears Shares Jump as Retailer Expands Amazon Tire Partnersh
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Subject: (BN) Sears Shares Jump as Retailer Expands Amazon Tire Partnersh
(BN) Sears Shares Jump as Retailer Expands Amazon Tire Partnersh
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Sears Shares Jump as Retailer Expands Amazon Tire Partnership
2018-08-28 12:42:53.775 GMT
By Jonathan Roeder
(Bloomberg) -- Sears Holdings Corp. is finding it's good
business to install the tires that customers purchase on rival
Amazon.com Inc.
So the struggling retailer has expanded the program, first
announced in May, across the entire U.S. Under the agreement,
drivers can ship their replacement tires from Amazon directly to
Sears stores for installation and balancing.
Sears shares jumped as much as 34 percent to $1.49 on
Tuesday morning after the announcement the program had been
rolled out nationwide.
"The response from Amazon customers around this program has
been extremely positive," said Mike McCarthy, vice president and
general manager of Sears Automotive.
Related: Amazon Just Might Be Retail's New Secret Weapon
The partnership shows how some retailers that have been
battered by the Amazon-led rise of e-commerce are now seeking to
team up with their Seattle-based competitor. Kohl's Corp. allows
Amazon shoppers to return items at some of its stores -- a bid
to attract foot traffic to its own brick-and-mortar locations.
To contact the reporter on this story:
Jonathan Roeder in Chicago at
jroeder@bloomberg.net To contact the editor responsible for this story:
Anne Riley Moffat at
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