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The auto center at the Springfield Sears is expected to close in late July, the company said. In addition, a year ago, appliance and electronics retailer HHGregg shut down its large mall store after less than five years in business. Aside from being used for the occasional auto sale or holiday-themed store, the HHGregg space has remained empty.
Sears Holdings last hit Springfield with a closure in December , when the company shut down a Kmart at the corner of Veterans Parkway and Wabash Avenue. The old Kmart building has been renovated into new retail space. A Burlington store opened there in April.
That marks the more than five years of straight quarterly sales drop, according to FactSet. Sales at established stores, a key gauge of a retailer's health, tumbled nearly 12 percent, down 9. Rob Riecker, Sears' chief financial officer, said in a pre-recorded call that the company's stores are "a critical component in our transformation. But to meet customer needs and improve financial results, Sears must close poorly performing stores and "focus on our best stores, including our newer smaller-store formats," he said, according to a transcript of the call.
The latest closings underscore the deep-rooted problems at Sears, which was once a one-time powerhouse retailer that survived two world wars and the Great Depression but has been calving off pieces of itself as it burns through money. Chairman and CEO Edward Lampert, who combined Sears and Kmart in after helping to bring the latter out of bankruptcy, has long pledged to save the famed retailer, which started in the s as a mail-order catalog business.
White Oaks Mall in London Ontario with over stores and services. White Oaks Mall has just what you need! White Oaks Mall is a two story indoor regional shopping center located at Veterans Parkway and Wabash Ave, just a short distance from I Anchored by Dick's Sporting Goods and Macy's, you're sure to find what you're looking for. The Sears at White Oaks Mall, an anchor at the Springfield mall since it opened in , will go out of business later this year, the beleaguered retailer announced Thursday.