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Sears To Sell Appliances On Amazon, Sending Shares Soaring

This article is more than 6 years old.

You'll soon be able to buy Kenmore appliances on Amazon.

Sears said on Thursday that it will start selling its full line of Kenmore-branded appliances on Amazon, in an attempt by the struggling retailer to bolster sales.

Shares of Sears jumped 22% in pre-market trading.

This marks the broadest distribution of Kenmore appliances outside of Sears stores and its own websites, the company said.

"We continuously look for opportunities to enhance the reach of our iconic brands to more customers and create additional value from our assets," said Sears CEO Eddie Lampert.

Sears has been trying to stay in business after years of declining sales and big losses. It has been closing stores, slashing costs, selling off real estate and parting ways with some of its brands.

Sears sold its Craftsman brand to Stanley Black & Decker for $900 million earlier this year, and had been exploring its options for its Kenmore appliance and Diehard car part brands. However, its partnership with Amazon looks like an attempt to hold onto the brand while trying to reignite sales and reach new customers.

"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," said Tom Park, president of the Kenmore, Craftsman and DieHard brands at Sears.

The Kenmore line of smart appliances have also been linked up to Amazon Alexa, the retailer said. Customers can ask Alexa to change the temperature on their air conditioner, for instance, without getting up from the couch. Kenmore's smart air conditioners, starting at $380, are already on sale on Amazon and are eligible for Amazon Prime's two-day shipping.

Sears was once the biggest retailer in America and its famous catalogs were found in homes across the country. However, it has not fared well amid competition from retailers like Wal-Mart and Amazon. Its physical footprint in the U.S. has shrunk from 3,400 stores a decade ago to just 1,400 stores.

Terms of the deal were not disclosed.