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Sears stock is skyrocketing on news of a new Amazon partnership

Sears stock is skyrocketing on news of a new Amazon partnership
[Photo: Lorenzo Cafaro/Pexels]

The quintessentially American department store Sears has been on a downward spiral of late. It has announced numerous store closings over the last year, and its stock has been consistently dipping. At its earnings report today, however, it announced a new partnership with Amazon that seems to have given it a boost–at least for now.

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CNBC reports that Amazon and Sears will begin working together on tire sales. Customers can buy tires online and then schedule a time to stop by the closest Sears Auto Center to have them installed. The program will begin at 47 locations, but Sears says it has plans to roll it out to every Auto Center around the country.

Meanwhile, Sears stock has jumped 20% on news of this Amazon partnership.

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