Boscov’s Looks to Expand
Reading, Pa., Boscov’s could benefit from Federated Department Stores Inc.’s takeover of May Department Stores Co. Federated is planning to sell some stores in malls that already have a Macy’s. Boscov’s is planning on buying Strawbridge’s locations in malls where Macy’s already exists.
Currently, Boscov’s has stores in New Jersey, Pennsylvania, New York, Delaware and Maryland, and one under construction in Virginia. Adding some of the eight Strawbridge’s locations would help the company grow more quickly. According to John Hlis, senior VP for real estate and development, Boscov’s has not yet begun negotiations with Federated. Hlis said, however, “We will aggressively pursue this.”