Sears Holdings Corp. announced a joint venture with Amazon.com that allows tires purchased through Amazon to be installed at Sears U.S. auto shops. Sears CEO Edward S. Lampert says the deal will help his company reach a new customer base through Amazon.
The department store chain has endured years of struggling sales, owing to competitive pressures from Amazon, Walmart and other rivals.
“Let me be the first one to acknowledge we are on the right path, but we haven’t gotten over the hump," Lampert said, as reported by Reuters. "We need to convert our vision into reality.
Sears currently operates 1,002 stores, down from 2,019 back in 2012.
By Brannon Boswell