fresh Jersey’s Willowbrook Mall, which is actually owned by General Growth Properties, incorporates a “Next Generation” Sears store. The freed-up space will be filled with one of the area’s first Dave & Buster’s arcade restaurants, along using a handful of some other tenants which haven’t yet been announced.
In pursuing which redevelopment, GGP will be able to boost a key “sales-per-square-foot” metric at Willowbrook, along with likely all some other malls where the revamps take place.
“Seritage, Simon along with GGP have been at the forefront of redeveloping Sears’ anchor boxes,” Boenning & Scattergood analyst Floris van Dijkum told CNBC. “along with they’ve been achieving high returns.”
In its fiscal third-quarter Discharge, Sears said its efforts have led to much better financial performance. Next year, the company said which expects to reach positive adjusted earnings before interest, taxes, depreciation along with amortization.
Still many have their doubts. Neil Saunders, managing director of GlobalData Retail, called Sears “a dying business.”
“For all the criticism we throw at Sears, which is actually only fair to give praise to the initiatives the group is actually taking to try along with bring itself back,” he said. “While we do not have much faith which these things will be sufficient to revive the company’s fortunes, which does not mean to say which they are entirely without merit.”