Credit: Tom Sofield/LevittownNow.com
The Sears store in the Oxford Valley Mall will live to open for another day.
Despite companywide declining sales and slumping revenues, Sears did not list the 173,000-square-foot Middletown store as of one the 48 it is closing due to the fact they were not profitable. In addition, the company announced it was closing 15 of its Kmart stores throughout the country.
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The closest Sears location slated to close in the latest rounds of cuts is located the Burlington Town Center in Burlington, New Jersey.
The company said in a statement that nine additional stores are still being “evaluated further.”
The Oxford Valley Mall Sears is the prospective location for the MaST-Neshaminy Charter School. Officials from the charter school told LevittownNow.com earlier this year that they have a $9.6 million letter of intent to take over and convert the retail place in a kindergarten through 12th grade learning center.
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Sears and the mall have previously not commented on the future of the store.
In their earnings for the last quarter, Sears said the company reported revenues of just under $3 billion, a decrease over the same quarter a year ago. The company noted overall store sales at Sears and Kmart dropped 11.9 percent during the last quarter.
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Sears closed the Kmart not far away in Middletown several years back. The location has been turned into a CarMax.
The Oxford Valley Mall has four large anchor store slots. Three of the anchor stores are Macy’s, J.C. Penney, and Sears. The fourth anchor position was previously occupied by Strawbridges and later Boscov’s before closing and sitting empty since 2006.
