Sears shares spike after announcing tire partnership with Amazon

Sears Holdings Corp. shares jumped 15.6% in Wednesday trading after the retailer announced a tire partnership with Amazon.com Inc. Sears Auto will offer Amazon customers the option to have their tires shipped to a store, and a choice of dates and times for installation. Sears Auto will be in touch to confirm the appointment. The ship-to-store option will be available at 47 Auto Centers in eight metro areas including Chicago, Los Angeles and New York. The service will be expanded to the 400-plus Auto Centers nationwide. Sears is also making DieHard tires available on the Amazon site for the first time. Sears began selling Kenmore appliances on Amazon in July 2017, and DieHard battery chargers and other products in December 2017. DieHard batteries were added in February 2018. Sears shares are down 11% for the year so far while Amazon shares are up 36.4% for the period. The S&P 500 index is nearly flat for the period.