Amazon (AMZN) Crushes Home Depot, Lowes With Sears Partnership

Sears says Kenmore products now available on Amazon; shares spike 13%

"The Amazon platform is so broad and also focuses on the millennial generation, which is very important for Kenmore to reach", Tom Park, the president of Kenmore, told CNBC in an interview Thursday. The mall mainstay has fallen on hard times in recent decades as online retail has taken over - and now, the company is signing on with Amazon to sell its Kenmore brand through one of the key contributors to that on-going downside. However, the goal is to expand that to every home appliance in the company's line-up. "The move makes sense as it puts Sears' brand products where customers are shopping and gives them a better chance of selling".

"Up until this point many of these brands have been somewhat reluctant to embrace Amazon, but we're seeing more and more of that now", Amobi said. In 2009, the online giant agreed to pay $51 million to settle a bitter, five-year battle with Toys R Us after the toy company accused Amazon of breaking their contract by allowing other companies to sell their toys, games and baby items on the site. From there, the company plans to expand to the rest of the country, and hopes to eventually offer two-day delivery for Amazon Prime customers.

The deal comes after a string of troubles for Sears, which has lost ground to rivals ranging from Walmart to Amazon.com and has relied on a combination of asset sales such as its Land's End clothing and Craftsman tool lines as financial lifelines. In its last quarter, Sears notched its first profit since 2015, reporting net income of $244 million on revenue of $4.3 billion, compared with a loss of $471 million on sales of $5.4 billion in the year-ago quarter.

Thrilled investors drove Sears shares up 13.4% to $9.88 at 1:14 p.m. Shares of Sears Holdings were up over 20% following the announcement. The company's stock has lost almost 95 percent of its value in the past decade, from a peak of $195.18 a share in 2007.

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