Sears shares soar on tire-service deal with Amazon

Amazon Sears tire installation

The quintessentially American department store Sears has been on a downward spiral of late. Sears Auto Centers then contacts them to confirm their appointment. Sears stock jumped 20 percent on news of the Amazon partnership after having falling more than 70 percent over the a year ago.

Embattled retailer Sears announced on Wednesday that it was teaming up with e-commerce giant Amazon on a customer service venture to help service vehicles, which sent Sears shares surging approximately 20%. It is the first nationwide outlet to offer Amazon customers a ship-to-store tire solution.

Sears Auto will offer Amazon customers a choice of dates and times for the installation of their tyres at 47 Auto Centers spread across eight metropolitan areas including its home base of Chicago, as well as Los Angeles, Miami and NY.

Sears Holdings Corp also says that the expanding relationship between it and Amazon will have it selling its own DieHard tires on the website. Sears began selling Kenmore appliances on the site in July 2017.

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Here's how it works: Amazon customers select their tires, the Sears Auto location and their preferred date and time for the tire installation. "We're thrilled to expand our assortment of this iconic brand to include passenger tires on Amazon.com".

Amazon.com, Inc. shares were trading at $1,604.95 per share on Wednesday afternoon, up $12.56 (+0.79%).

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