Amazon, Sears Deal Driving Home Depot, Lowe's Stocks Down
You really can get anything on Amazon.
Shares of Home Depot (HD) - Get Report and Lowe's (LOW) - Get Report were falling on Thursday morning after Amazon.com (AMZN) - Get Report and Sears (SHLD) announced that the department store retailer would begin selling its Kenmore brand appliances on the ecommerce website.
Watch: From Catalogs to Catastrophe: A Sears Timeline
Lowe's stock was down 6.1% to $72.14 on heavy trading volume early Thursday afternon, and Home Depot stock was sliding by 4.2% to $146.87.
Both Lowe's and Home Depot are retailers of large appliances including refrigerators, washers and dryers, and dishwashers.
Sears will be selling smart appliances on Amazon that can be synced up with Amazon's Alexa voice assistant.
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