Longtime anchor retailers at some of the area?s malls could be in for some increased competition when Boscov?s Department Stores opens three new local stores this fall.
“I think this is going to provide competition to the dominant department stores and will offer more choice for consumers,” said Tom Saquella, president of the Maryland Retailers Association. “Their locations are excellent for the type of shoppers who like their stores and they?re a very well-run company.”
The new stores, at White Marsh, Owings Mills and Marley Station malls, join Boscov?s other two Maryland locations in Westminster and Frederick.
The family-owned, Reading, Pa.-based retailer acquired the three Baltimore area stores in early 2006, along with seven others in Pennsylvania and New Jersey from Federated Department stores after that company acquired The May Department Stores. The Baltimore stores, all former Macy?s Department Stores, were duplicate locations for Federated. The locations are slated to open in late October, according to Maralyn Lakin, a Boscov?s spokeswoman.
“We feel that Baltimore is a wonderful opportunity for Boscov?s to make a stand, and we see it as a great opportunity not only as a business opportunity but it?s a community we feel we would love to be involved with,” Lakin said. “We want to make sure there is competition in every marketplace. The competition is healthier for the consumer.”
Kim Freely, a Sears corporate spokeswoman, declined to provide details on how the company expects Boscov?s to affect its market share, saying, “Sears recognizes that retailing is a competitive business and we don?t comment on our competition.”
Likewise Tim Lyons, a spokesman with The JC Penney Co. Inc., also declined to comment on how that company views the competition.
“It?s a competitive business and there is lots of competition everywhere so we have to make sure were on top of our game every day,” Lyons said.
Rodney Stump, an associate professor and chair of the department of marketing and business at Towson University, said given Maryland?s mixed affluence, he expects Boscov?s to appeal to a certain segment of the population.
“Their marketing and retailing strategy is very similar to what Kohl?s has been doing. They?re sort of a combination of the traditional department store, but with aspects of a discount department store,” Stump said. “Toward that middle to lower end, you have a lot of people who are fashion conscious but on a limited budget. I think this will certainly add to the competition in that lower-middle tier.”
