Sears Holdings Corp. (NASDAQ: SHLD) saw its shares make an unprecedented gain after it was announced that the retailer would be collaborating with Amazon.com Inc. (NASDAQ: AMZN). Specifically, these two companies will be working to provide full-service tire installation and balancing for customers who purchase any brand of tires on Amazon.
The collaboration stems from a growing relationship between Sears and Amazon, when Sears began selling Kenmore appliances on Amazon in July 2017.
With this collaboration, Sears Auto will become the first nationwide auto service center to offer Amazon customers the convenient Ship-to-Store tire solution integrated into the Amazon checkout process, which is easy and convenient. Amazon customers simply select their tires, the Sears Auto location and their preferred date and time for the tire installation. Sears Auto Centers then contact them to confirm their appointment.
The new Ship-to-Store capability will be initially available at 47 Sears Auto Centers in eight metropolitan areas. Following the initial launch, Sears Auto Centers quickly will expand this service to Amazon customers through its 400 plus Sears Auto Centers nationwide.
Tom Park, president of Kenmore, Craftsman and DieHard brands at Sears Holdings, commented:
Amazon.com customers can expect terrific performance and reliability from DieHard tires and professional installation from Sears Auto Centers. We’re thrilled to expand our assortment of this iconic brand to include passenger tires on Amazon.com.
This service will be rolling out to customers across the United States over the coming weeks.
Shares of Sears were last seen up about 22% at $3.37 on Wednesday, with a consensus analyst price target of $2.00 and a 52-week trading range of $1.99 to $11.49.
Amazon traded up just less than 1% at $1,604.73 a share, with a consensus price target of $1,820.20 and a 52-week range of $927.00 to $1,638.10.