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Department store chain Boscov’s is outperforming rivals, thanks to record sales and low levels of debt.
Even as another regional department store chain, Bon-Ton Stores, filed for Chapter 11 bankruptcy protection, Boscov's ended its fiscal year with record sales of $1.2 billion, according to the Times Leader.
“The timing of The Bon-Ton announcement is interesting, because we just ended our fiscal year Saturday, and we finished with the best year we’ve ever had,” said Chairman and CEO Jim Boscov.
Reading, Pa.–based Boscov's operates 46 stores. Its 47th store will open in Milford, Conn., this October. “We continue to grow,” Boscov said. “We are very fortunate that these opportunities present themselves. The mall developers have been very creative, thereby allowing the mall to evolve. We are seeing this happen all over.”
By Brannon Boswell
Executive Editor, Commerce + Communities Today
