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BUSINESS
By Gus G. Sentementes and Gus G. Sentementes,SUN STAFF | October 6, 2002
For decades, mass retailers and specialty chains have been poaching customers from J.C. Penney Co. Inc. and other department store chains. With their survival at stake, department stores are fighting back. For Penney, that has meant embarking on an overdue restructuring program that has shaken up the retailer from top to bottom. The retailer, which also owns the Eckerd drug chain, took more than $500 million in charges over the past three years as it closed hundreds of department stores and pharmacies, revamped internal operations and refocused its merchandise strategy.
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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | May 17, 2012
Boscov's department store will return to White Marsh Mall Oct. 7, filling the empty anchor spot the regional chain vacated nearly four years ago after it filed for bankruptcy. "I'm glad we are returning to White Marsh Mall," Albert Boscov, the retailer's chairman and CEO and son of the founder, said in a statement. "It was a great store, and we look forward to creating a new, more exciting Boscov's in the Baltimore area. " The family-owned chain, based in Reading, Pa., once had half a dozen department stores in Maryland.
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BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | September 12, 1999
One of Jim Nordstrom's favorite customer service stories is about a Nordstrom shopper in desperate need of a blue dress shirt with white cuffs and collar and a salesman who produced one within a day.When asked how, with none in stock, the salesman held back the details, but replied, " `Well, if you need a white dress shirt with a blue collar and blue cuffs, we have one,' " recalled Nordstrom, a company co-president and part of the fourth generation to...
BUSINESS
By Andrea K. Walker and Lorraine Mirabella and Andrea K. Walker and Lorraine Mirabella,Sun reporters | August 16, 2008
Department store chain Boscov's Inc. will begin liquidation sales today at 10 stores it is closing, including three in the Baltimore area. The Reading, Pa.-based department store chain, which has said its sales were hurt by a slowdown in consumer spending, received court approval yesterday to begin the clearance sales. U.S. Bankruptcy Judge Kevin Gross signed an order authorizing a joint venture of Gordon Brothers Retail Partners LLC and Hilco Merchant Resources LLC to conduct the sales for the retailer.
BUSINESS
By Andrea K. Walker and Lorraine Mirabella and Andrea K. Walker and Lorraine Mirabella,Sun reporters | August 16, 2008
Department store chain Boscov's Inc. will begin liquidation sales today at 10 stores it is closing, including three in the Baltimore area. The Reading, Pa.-based department store chain, which has said its sales were hurt by a slowdown in consumer spending, received court approval yesterday to begin the clearance sales. U.S. Bankruptcy Judge Kevin Gross signed an order authorizing a joint venture of Gordon Brothers Retail Partners LLC and Hilco Merchant Resources LLC to conduct the sales for the retailer.
BUSINESS
August 3, 2008
Boscov's faces slowdown Two years after taking over 10 Macy's stores, including three in the Baltimore market, the Boscov's department store chain is wrestling with a "perfect storm" of slowed consumer spending and the credit crunch. Kenneth S. Lakin, chairman of the Reading, Pa.-based company, said that the department store chain had recently laid off 200 people at its headquarters and 10 to 20 at individual stores. Vanda shares sink 73% Shares of Vanda Pharmaceuticals fell 73 percent Monday to their lowest level since the Rockville company went public two years ago. Vanda said the Food and Drug Administration rejected its schizophrenia drug, iloperidone.
NEWS
By Kerry O'Rourke and Kerry O'Rourke,Staff Writer | September 13, 1992
WESTMINSTER -- Leggett department store will break a family tradition and open on Sundays for a two-month trial beginning next month.The store in Cranberry Mall will be open from 1 to 6 p.m. on Sundays from Oct. 4 to Dec. 27, said Fred B. Leggett Jr., vice president of operations.The Leggett family, which founded the department store chain in Virginia about 75 years ago, had kept its stores closed on Sundays because of its belief that the day is a time to spend in church and with family.Mr.
BUSINESS
By Susan Chandler | September 22, 2005
Terry J. Lundgren, chief executive of Federated Department Stores Inc., wasn't winning any popularity contests in Chicago after announcing his decision to change Marshall Field's venerable nameplate to Macy's. But the 53-year-old Lundgren didn't hide in his office waiting for the ruckus to die down. He flew to Chicago for a face-to-face meeting with Mayor Richard Daley and then took his story to the Chicago media. "It's a very big day for us and a very emotional day in this city. We have a lot of respect for that," Lundgren told the Chicago Tribune's editorial board.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,Sun reporter | July 29, 2008
Two years after taking over 10 Macy's stores, including three in the Baltimore market, the Boscov's department store chain is wrestling with a "perfect storm" of slowed consumer spending and the credit crunch. Kenneth S. Lakin, chairman of the Reading, Pa.-based company, said in a phone interview yesterday that the department store chain had recently laid off 200 people at its headquarters and 10 to 20 at individual stores and refinanced some loans. He also said his family had put equity into the privately held company, but he would not give specifics.
NEWS
By Andrea K. Walker, Paul Adams and Julie Scharper and Andrea K. Walker, Paul Adams and Julie Scharper,Sun Reporters | August 5, 2008
Regional department store chain Boscov's Inc. filed yesterday for Chapter 11 bankruptcy protection and said it would close 10 stores, including anchors in three of the Baltimore area's largest malls, as the company suffers from slumping sales amid the housing and credit crunch. Boscov's, based in Reading, Pa., will begin liquidation sales immediately and will close those "underperforming stores" when the entire inventory is sold, which officials estimate will take one to two months. About 1,400 employees, including about 400 in the Baltimore area, will lose their jobs.
NEWS
By Andrea K. Walker, Paul Adams and Julie Scharper and Andrea K. Walker, Paul Adams and Julie Scharper,Sun Reporters | August 5, 2008
Regional department store chain Boscov's Inc. filed yesterday for Chapter 11 bankruptcy protection and said it would close 10 stores, including anchors in three of the Baltimore area's largest malls, as the company suffers from slumping sales amid the housing and credit crunch. Boscov's, based in Reading, Pa., will begin liquidation sales immediately and will close those "underperforming stores" when the entire inventory is sold, which officials estimate will take one to two months. About 1,400 employees, including about 400 in the Baltimore area, will lose their jobs.
BUSINESS
August 3, 2008
Boscov's faces slowdown Two years after taking over 10 Macy's stores, including three in the Baltimore market, the Boscov's department store chain is wrestling with a "perfect storm" of slowed consumer spending and the credit crunch. Kenneth S. Lakin, chairman of the Reading, Pa.-based company, said that the department store chain had recently laid off 200 people at its headquarters and 10 to 20 at individual stores. Vanda shares sink 73% Shares of Vanda Pharmaceuticals fell 73 percent Monday to their lowest level since the Rockville company went public two years ago. Vanda said the Food and Drug Administration rejected its schizophrenia drug, iloperidone.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,Sun reporter | July 29, 2008
Two years after taking over 10 Macy's stores, including three in the Baltimore market, the Boscov's department store chain is wrestling with a "perfect storm" of slowed consumer spending and the credit crunch. Kenneth S. Lakin, chairman of the Reading, Pa.-based company, said in a phone interview yesterday that the department store chain had recently laid off 200 people at its headquarters and 10 to 20 at individual stores and refinanced some loans. He also said his family had put equity into the privately held company, but he would not give specifics.
NEWS
By ANDREA K. WALKER and ANDREA K. WALKER,SUN REPORTER | February 7, 2006
As the Baltimore market gets ready to lose a familiar department store, it is gaining another - albeit a less familiar one. Boscov's Inc., a family-owned department store chain based in Reading, Pa., will move into anchor spots at three Baltimore-area malls. The vacancies result from the closing later this year of Hecht's, which was bought by Federated Department Stores Inc. from the May Co. last year. The transaction presents a major leap for Boscov's, which has operated in smaller markets for most of its 85 years and will immediately grow by 25 percent.
BUSINESS
By Susan Chandler | September 22, 2005
Terry J. Lundgren, chief executive of Federated Department Stores Inc., wasn't winning any popularity contests in Chicago after announcing his decision to change Marshall Field's venerable nameplate to Macy's. But the 53-year-old Lundgren didn't hide in his office waiting for the ruckus to die down. He flew to Chicago for a face-to-face meeting with Mayor Richard Daley and then took his story to the Chicago media. "It's a very big day for us and a very emotional day in this city. We have a lot of respect for that," Lundgren told the Chicago Tribune's editorial board.
BUSINESS
By BLOOMBERG NEWS | August 18, 2004
PLANO, Texas - J.C. Penney Co. Inc., the second-largest U.S. department-store chain, posted a fiscal second-quarter profit yesterday of $72 million. Profit from continuing operations was 23 cents a share, compared with a loss of $3 million, or 3 cents a share, in the second quarter last year. The figures exclude results from the Eckerd drugstore chain, which was sold this year. Sales in the period that ended July 31 rose 5.8 percent to $3.86 billion. Fiscal second-quarter profit met analysts' estimates.
NEWS
By ANDREA K. WALKER and ANDREA K. WALKER,SUN REPORTER | February 7, 2006
As the Baltimore market gets ready to lose a familiar department store, it is gaining another - albeit a less familiar one. Boscov's Inc., a family-owned department store chain based in Reading, Pa., will move into anchor spots at three Baltimore-area malls. The vacancies result from the closing later this year of Hecht's, which was bought by Federated Department Stores Inc. from the May Co. last year. The transaction presents a major leap for Boscov's, which has operated in smaller markets for most of its 85 years and will immediately grow by 25 percent.
BUSINESS
By Adam Sachs and Adam Sachs,SUN STAFF | November 11, 1995
Karen Commerford knows she's afflicted, but hers is an illness she can live with.It's called bargain fever, and Ms. Commerford was surrounded by similarly afflicted shoppers yesterday, combing the racks and sifting through piles of garments for one last deal on the last day of business for the Woodward & Lothrop store at the Mall in Columbia.The venerable, 115-year-old department store chain known affectionately to customers as Woodies -- a bankrupt business sold in a bidding war in August -- closed all remaining stores in the Baltimore-Washington area yesterday after a two-month liquidation sale billed as the "End of an American Era."
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | April 11, 2003
Sales at the nation's leading stores proved disappointing in March for discount outlets as well as more upscale chains, as shoppers worried about the war and the weakened economy continued putting a crimp in consumer spending. Retailers also blamed lower sales on cool spring weather in much of the nation, which hurt apparel sales, and on a shift in the Easter holiday, which came in March last year and falls in April this year, and which typically helps boost buying. Retail sales dipped an average 0.2 percent, according to the Bank of Tokyo-Mitsubishi, which tracks sales at stores open at least a year for 79 chain retailers.
BUSINESS
By Gus G. Sentementes and Gus G. Sentementes,SUN STAFF | October 6, 2002
For decades, mass retailers and specialty chains have been poaching customers from J.C. Penney Co. Inc. and other department store chains. With their survival at stake, department stores are fighting back. For Penney, that has meant embarking on an overdue restructuring program that has shaken up the retailer from top to bottom. The retailer, which also owns the Eckerd drug chain, took more than $500 million in charges over the past three years as it closed hundreds of department stores and pharmacies, revamped internal operations and refocused its merchandise strategy.
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