The shares of Sears Holdings (NASDAQ: SHLD) moved higher today after the ailing retailer said that it has broken its partnership with Amazon (1965) NASDAQ: AMZN) to install tires sold on Amazon at Sears Auto Centers
The stock rose 12.8% EDT at 4:04 pm
The partnership builds on a test between the two companies that started in May, which has 47 Sears Auto Center locations. In eight metro areas, installations and balancing were performed on each tire brand, including DieHard of Sears ,
Sears and Amazon are now expanding the nationwide tire-to-ship solution. The option to send and install your tires directly to Sears is integrated with the Amazon checkout process.
Mike McCarthy, Vice President of Sears Automotive, said, "The response from Amazon customers to this program has been extremely positive, adding that the service has" resonated with customers. "
Partnering with Amazon As the Sears Auto Centers are making a profit for the Sears Auto Centers, the Sears Auto Centers has little impact on overall business performance: Sears' share price has dropped to nearly $ 1 due to continuing concerns about liquidity, according to the company Selling money would close 46 more deals.
Investors could hope that the partnership with Amazon could lead to another helping hand or even takeover by the e-commerce giant, but that seems unlikely and when Amazon makes acquisitions, it buys a well-managed, forward-looking, successful business like Whole Foods, Ring and PillPack zon CEO Jeff Bezos is not looking for fixer tops. 19659005] I would expect Sears' stock to drop again shortly, especially with the company's earnings report on deck.
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's Supervisory Board. Jeremy Bowman has no position in any of these stocks. The Motley Fool owns shares of and recommends Amazon. The Motley Fool has a disclosure policy.