Sears is popping after saying it will sell appliances on Amazon

Sears is making big gains Thursday morning, up 22.70% in premarket trading Thursday, after announcing it would begin selling its Kenmore appliances on Amazon.

Selling on Amazon will give the company access to its largest customer base outside of Sears brick and mortar stores, which could boost sales at the company.

The former retail giant has been in the news recently for a huge number of store closures. Its stock is down 10.66% so far this year.

Sears also announced it would be adding Amazon's Alexa voice assistant into a new line of smart appliances.

CEO Eddie Lampert said the company's brand will benefit from reaching a wider group of customers.

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