Finance

Sears is now selling appliances on Amazon

Sears is now selling appliances on Amazon

"The launch of Kenmore products on Amazon.com will significantly expand the distribution and availability of the Kenmore brand in the U.S".

As an extra enticement for shoppers, Kenmore products listed on Amazon will integrate with popular voice-activated assistant Alexa.

Sears, which has been dealing with consistently slumping sales for years, will now have access to Amazon's massive customer base-its largest potential pool outside of its own brick-and-mortar stores.

"Working with Amazon is perfectly aligned with our omni-channel strategy to unleash the power and service of Kenmore and support the brand's growth", said Tom Park, President of Kenmore, Craftsman and DieHard brands at Sears Holdings. For example, users can change the temperature on their air conditioner without leaving the sofa. Customers can enable the Kenmore Smart skill in the Alexa Skill Store, link their account and then begin asking Alexa to interact with their Kenmore Smart appliances. Sears (SHLD) bit the bullet on July 20th and acquiesced, announcing that it will sell its Kenmore appliances on Amazon, including a new line of Kenmore Smart appliances featuring Amazon's Alexa.

SHLDi says distribution will be expanded nationwide to the full line of Kenmore home appliances; terms of the deal are not disclosed.

Exxon Mobil Fined for Violating Russian Sanctions Under Tillerson
In 2014, the Obama administration did not sanction Rosneft, the energy company, but it did sanction Sechin, who led the company. Exxon did not voluntarily disclose the signings, according to the Treasury, which called the infractions "an egregious case".

And just like after Amazon announced that it had agreed to buyWhole Foods Market (WFM), the news is hammering every company competes with Sears in the appliance space, including Whirlpool (WHR), Home Depot (HD), and Lowe's (LOW).

Sears' deal with Amazon could even eat into in-store sales and hit margins, warned Neil Saunders, managing director of retail at research firm GlobalData.

But the retailer continues to fight back by reevaluating its real estate portfolio in the midst of a $1.25 billion cost-cutting plan.

Sears' stock pared some of the early gains but was still up 14 percent, on track for its best day in about four months.


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