The struggling department store on Thursday said it would begin selling its popular line of Kenmore appliances on Amazon, a retailer that has siphoned away a huge chunk of business from the likes of Sears over the years. The company also announced the integration of the full line of Kenmore Smart appliances with Amazon Alexa.
Despite the potential risks of “sleeping with the enemy,” it’s easy to see the appeal of the Amazon deal for Sears: the partnership marks “the broadest distribution of Kenmore,” Sears said, and comes at a time of abysmal financial results for Sears.
Sears Holdings shares rose 17% on the news.
“The launch of Kenmore products on Amazon.com will significantly expand the distribution and availability of the Kenmore brand in the U.S.,” Sears Holdings CEO Eddie Lampert said in a statement. Sears Holdings also operates the Kmart chain.) Sears could use the business: Sears namesake department stores saw comparable sales fall 12.4% in the first quarter, despite closing dozens of weak stores in the last year. (The company recently announced the closing of another 43 stores…