One of the genuine assets held by Sears Holdings is the real estate occupied by many Sears stores. How to get more out of it? Shrink some stores:
Sears Holdings Corp. said its Oak Brook [Illinois] store is among a dozen stores nationwide set to be reduced by half with their auto centers eliminated or changed into just appliance stores by 2018.
The Sears store and its Sears Auto Center in Oakbrook Center, along with 11 others, were sold to the GGP-Seritage Growth Partners Joint Venture last year.
The nature of the shrinkage:
After the footprint is changed, the Sears store will remain on the entire lower level and continue to serve our (customers) by operating in a smaller, more efficient space that will include home appliances, mattresses, household goods, sporting goods, tools and a targeted assortment of apparel.
One of the dozen stores marked for diminution is at the east end of Sooner Fashion Mall in Norman, Oklahoma.