Sears CEO Edward Lampert told attendees at the company’s annual shareholders meeting May 9 the move was an attempt to reach a new customer base. Sears has sold assets and closed unprofitable stores as sales have declined in recent years amid increased competition from online retailers.
The new tire partnership will roll out in the coming weeks.
“The partnership with Amazon, while a positive for Sears Auto Centers, is unlikely to impact the overall deteriorating revenue and profit picture at Sears stores in a meaningful way,” Ken Perkins, founder of Retail Metrics, told Reuters.
More articles on business:
Unemployment rate drops to 3.9%, lowest rate since April 2000
Cambridge Analytica halts operations following Facebook data controversy: 7 notes
Elon Musk’s earnings call comments cost Tesla $2B in market cap
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
