Strategy: Sears is now selling appliances on Amazon (SHLD)

The move marks the broadest distribution of Kenmore products outside of Sears stores, and should give the company access to new customers.

Sears is planning to start selling its Kenmore-branded appliances on Amazon, the company announced Thursday.

Sears' stock price soared more than 7% in premarket trading following the news.

The move will lead to the broadest distribution of Kenmore products outside of Sears stores, and should give the company access to new customers.

But it also gives shoppers one more reason not to visit Sears.com or Sears' stores, which have been battling declining traffic for years.

The deal will make Sears' full line of Kenmore appliances available for purchase on Amazon, with Kenmore, Sears Home Services, and Innovel Solutions providing white-glove service for delivery, installation and extended product protection for a full range of home appliances.

Sears is also launching a line of Kenmore Smart appliances with Amazon Alexa, the company announced Thursday.

In a statement on the strategy, Sears CEO Eddie Lampert said the company is continuously looking for ways to create additional value from the Sears' assets.

"The launch of Kenmore products on Amazon.com will significantly expand the distribution and availability of the Kenmore brand in the US," he said. "At the same time, Sears Home Services and our Innovel Solutions unit will benefit from the relationship as more customers experience their quality services for Kenmore products purchased on Amazon.com."

The move marks the broadest distribution of Kenmore products outside of Sears stores, and should give the company access to new customers. Read Full Story