Department store giants like Macy’s and JCPenney have been shuttering stores left and right as a yearslong apocalypse for the one-time mall staples continues to claim victims.
But one Pennsyvania-based chain is managing to not just stay afloat. It’s in expansion mode.
Boscov’s, the nation’s largest family-owned department store chain, announced Friday that it plans to open its 51st store in The Mall at Greece Ridge outside Rochester, New York, sometime this fall.
The 175K SF outpost will create 250 new jobs, according to a press release from the company based in Reading, where current CEO Jim Boscov’s grandfather Solomon founded it in 1914.
The department sector’s woes have often…
Artificial intelligence cloud provider CoreWeave’s initial public offering may have underwhelmed, but whether its disappointing public launch is a harbinger of looming trouble for the AI and data center ecosystem remains to be seen.
The largest life sciences developer in the country alleges an ex-regional head stole some of the company’s most sensitive information, including risk assessment and recovery plans if projects go sideways.
A former executive of the Appraisal Institute, which manages certifications for the appraisal industry, sued the nonprofit alleging widespread fraud stretching back to at least 2020.
Alissa Akins, the former director of education and publications at the agency, alleged in a civil case that the nonprofit knowingly misrepresented test results for mandatory continuing education to state regulators. Akins said she identified the problem and suggested an action plan to fix it, but she alleges leadership tried to force her out of the agency before ultimately firing her.
“Plaintiff was terminated from her job for reporting and refusing to participate in an ongoing fraud being committed by…
Work on the latest of Frisco’s multibillion-dollar mixed-use projects was cleared to commence after winning approval from city officials.
A private equity firm run by two former hedge fund investors and snapping up UK shopping centres has drafted developer Hub to work on plans for the redevelopment of The Liberty Shopping Centre in Romford, Essex.
The local authority, Havering Council, has drawn up a master plan for Romford’s town centre that envisages 1.2M SF of new residential space, with The Liberty at the heart of the plans.
The scheme could comprise around 1,000 homes.
Redical, which owns the centre, has brought in specialist residential developer Hub to work on the residential element, the companies said in a statement. Hub and Redical will…
Seritage Growth Properties, the REIT that was formed to sell off shuttered Sears department stores, will have new leadership for the process’s final stages.
Nine months into the operations of the first major co-living project in Houston, the property is only about half full.
But after a slow start and an early snafu involving Uniti Montrose’s management company going bankrupt and shutting down, the company is ready to turn the page and prove the city’s appetite for micro-apartments is more than theoretical.
President Donald Trump’s ever-changing trade policy has led pervasive uncertainty to take hold across the economy, with questions swirling about rising inflation and how the inevitable next set of tariffs will ripple across markets.
Federal Reserve Chair Jerome Powell, attempting to address the concerns of the market, resurrected a relic of the pandemic following the March meeting of the Federal Open Market Committee.
Inflation is getting worse and consumers aren’t happy about it, a pair of closely watched reports revealed Friday.
The core personal consumption expenditures price index, the Federal Reserve’s preferred inflation metric, was at a higher-than-expected 2.8% in February, up from 2.4% a month earlier. Consumer sentiment also fell 12% in the latest March reading, the third consecutive monthly decline, and consumer expectations of the future plunged 18%.