Boscov's
Company and Retailer
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Description from Wikipedia:
Boscov's is an American department store founded by Solomon Boscov in 1911. The first store was in Reading, Pennsylvania, and today 39 additional stores are spread throughout the Mid-Atlantic states of Pennsylvania, New Jersey, Maryland, New York, and Delaware.
Boscov's filed for bankruptcy protection on Monday, August 4, 2008 saying it is reorganizing and that its bankruptcy was precipitated by slowing sales and a nationwide credit crunch.
Boscov's, along with Belk, is one of the last family-owned department store chains in the United States, and has yearly revenue of over $1 billion. The chain of stores competes with the prices and products of The Bon-Ton. In some cities, Boscov's now competes with JCPenney, Macy's and Sears.
The current company chairman is Albert Boscov, who came out of retirement after buying the company back.
Many of the stores still offer several of the traditional services and departments that others discontinued years ago, gift wrapping, layaway, candy department, toy department, sporting goods, optical and a travel center. However, the stores no longer have hardware or automotive accessory departments. Eight stores include in-store restaurants called The Greenery. The Boscov's North store in Reading used to offer the same basic automotive services as Wal-Mart and Sears, and also offered state inspection service as JCPenney once did.
Boscov's still operates two downtown department stores in Binghamton, NY, and Wilkes-Barre, Pennsylvania.
The company, along with Philadelphia station WPVI-TV, was an annual title sponsor of the Philadelphia Thanksgiving Day Parade in Philadelphia from 1988 until 2007, having taken over when Gimbels Department Stores went out of business. After the company went bankrupt, title sponsorship was taken over by Swedish manufacturer IKEA.
- Name:
- Boscov's
- Type:
- Private
- Location:
- Reading, Pennsylvania
- Founded:
- 1911
- Industry:
- Retail
- Key People:
-
- Albert Boscov, Chairman & CEO
- Burton Krieger, President and Chief Merchandising Officer
- Products:
- Clothing, footwear, bedding, furniture, jewelry, beauty products, and housewares.
- Revenue:
- $1.051 billionUSD (2006)
- Website:
- http://www.boscovs.com/
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