What's Next For Boscov's After Retail Titan's Death
Albert Boscov was the public face of a department store chain he built from a single corner store in downtown Reading, Pennsylvania, to a regional powerhouse with locations in seven states and more than $1 billion in annual sales.
After his death Friday at age 87, Boscov leaves behind a chain with devoted customers and a tremendous amount of civic goodwill. But the century-old company still faces the headwinds that are buffeting the industry. Analysts say Boscov's long-term prospects are uncertain.
Few department stores have been more closely identified with their owners than Boscov's was with Albert Boscov, a cheerful executive who roamed the store aisles and was intimately familiar with his merchandise.
His nephew, who took over as CEO in 2015, says Boscov's will remain in the family.