Kroger to Exit from Springfield, Missouri Retail Market Citing Underperforming Stores
SPRINGFIELD, MO - For the first time since 2011, Kroger has decided to withdraw from a market. The retailer has decided to close its four Dillons stores in Springfield, Missouri, citing underperforming sales numbers, according to Kroger Spokesman Keith Dailey. With this departure, Kroger will sever its Springfield presence.
"The decision to exit Springfield is a regrettable but necessary step following the regular assessment of our supermarket operations," said Sheila Lowrie, a Spokeswoman for Dillons Stores.
According to the Cincinnati Business Courier, Kroger has sold these four Dillons locations to Price Cutter Supermarkets, which will acquire both the real estate and equipment formerly belonging to Kroger. This exchange will occur after the retailer exits the market in January.
The Cincinnati Business Courier notes that Missouri is a relatively small market for Kroger, which only operates 15 stores in the state. With the sale of the 4 Springfield locations this number will drop to 11.
At this time neither retailer has chosen to disclose terms pertaining to this transaction. If specific terms are disclosed to media outlets, however, you can count on AndNowUKnow to bring you the news first. Stay tuned for more updates on the American retail market as they occur.
