What’s that old saying? Keep your friends close and your enemies closer. It appears as though slumping retailer Sears is following that age-old saying—though, it might be more apropos to swap out “enemies” for “executioner” in this instance.
While Sears still operates a contracting number of physical retail stores, the company has decided to announce a nationwide roll out of its partnership with Amazon on its tire installation services. Through the partnership, drivers can ship their replacement tires from Amazon directly to a Sears store for installation and balancing.
News of the expanded roll out caused shares to jump 34 percent to $1.49 on Tuesday morning. It followed a sharp decline earlier in the week after the company announced yet another round of store closings.