Reading >> Albert Boscov, the legendary Pennsylvania retailer who ran the largest family-owned department store chain in the country for more than 65 years, died Friday at age 87.
Boscov’s death from cancer was announced late Friday “with profound sadness” by his nephew, Jim Boscov, CEO and vice chairman of Boscov’s Department Store, LLC.
Boscov died at home, surrounded by his wife, Eunice, and three daughters, according to the company.
“Albert Boscov was truly one of the giants in the retail industry,” Jim Boscov said in the statement. “He was a man of vision and passion and he had a profound influence on the retail business community and the community at large.”
Jim Boscov is the third generation of the Boscov family to head the company.
Albert Boscov disclosed his late-stage cancer diagnosis on Feb. 1 in a letter to the chain’s more than 7,500 employees. “I have pancreatic cancer and there is no cure,” Albert Boscov wrote. “I don’t have a lot of time.”
Jim Boscov said the company and its management team plan to continue his uncle’s legacy.
“We are committed to continue on the strong foundation he has created and to carry on in the spirit and philosophy he’s instilled,” he said.
Since taking the reins of the family business in 1950, Albert Boscov oversaw steady growth of Boscov’s Department Stores, which traces its origins to 1914 when Albert Boscov’s father, Solomon, first began selling merchandise in Reading.
From those humble beginnings, the business grew to 45 stores in seven states with annual earnings of more than $1 billion.
“Like his father, Albert Boscov maintained the principles of hard work, honesty and treating customers fairly and with respect,” Jim Boscov said. “He treated his coworkers like family and made shopping fun. A dynamic retailer and philanthropist, Mr. Boscov has been recognized for his considerable achievements both locally and nationally.”
Albert Boscov was the first inductee into the Pennsylvania Retailers’ Hall of Fame in 2013.
In addition to his business success, Albert Boscov was a philanthropist and community leader who helped revitalize the City of Reading. Boscov has been extensively involved in community redevelopment, including bringing the IMAX theater, DoubleTree Hotel and GoggleWorks to downtown Reading.
