Retail legend Albert Boscov tells employees he has late-stage cancer

[modrepub]

Albert Boscov, longtime chairman of Boscov's Department Stores, has told employees he has late-stage cancer.

Boscov related the news in a letter to the Berks County-based retail chain's 8,000 employees Wednesday morning, said Boscov's nephew, Jim Boscov, who was promoted to the company's third-generation CEO in 2015.

Jim Boscov declined to release a copy of Albert Boscov's letter out of respect for the family, but said in a statement: "In typical fashion, the first thing he did was thank [employees] for the outstanding results for 2016. Our year-end results were far ahead of other retailers. He then encouraged them to find the best possible bargains for the next sales event.

"All of us who worked closely with Albert for many years have been infused with the spirit, the drive, and the ethic it takes to succeed, and our best compliment to Albert is to continue doing what we do. That's what made us successful and unique in the retail industry."

Albert Boscov, who celebrated his 87th birthday in September, succeeded his father, Solomon, as head of the company in 1950. He emerged from a nearly three-year retirement in late 2008 to lift the then-struggling chain out of bankruptcy by buying it back from family members. He has remained active in the growing company's day-to-day operations as chairman ever since.

Link: http://www.mcall.com/business/retail/-mc-boscov-chairman-has-pancreatic-cancer-20170201-story.html

I hope his family can run the company as well as this man did. The guy still accompanied his sales staff to buys when he was in his 80s. A class act.

[Freddie]

1. My Dad graduated Reading High with one of the Boscov brothers

Was there an older brother? Dad would be 94 if he were still around.
The Boscovs grew up in a rowhouse just like my dad. Class act indeed. I believe they have turned down many offers to sell the chain to one of the huge department store corporations. Hope the next generation can do the same.

[woodsprite]

2. So sad! I have several friends who work there and they love it.

At one point we had almost the whole bell choir from our church working there (in both full-time and seasonal positions). We actually did a concert at Christmas in the aisles between cosmetics and the menswear departments. They certainly have the best sales around and they are always packed! I hope his nephew can run the business like Mr. Boscov did. I'd hate to see them go the way of Kmart, Sears, etc.

[meow2u3]

3. Boscov's will not be the same without Albert

I'm a regular Boscov's customer and I'm afraid the company might tank when he passes away and his family takes over.