May 19, 1988 |
Reading, the town that put outlet shopping on the map, may have some stiff competition from Franklin Mills come next spring, but officials there say they aren't worried. The interest in outlets generated by the giant mall, which is scheduled for completion in April, will help everyone, they say. And besides, Reading's no- frills, warehouse feel will always attract customers searching for "the real thing," they add. Franklin Mills "is a different animal," said Richard Maloof, general manager of the Reading Outlet Center, one of several complexes in Berks County that house a total of 250 vendor-controlled stores and off-price retailers.
June 19, 1992 |
Bloomingdale's has closed its Franklin Mills store, the retailer's first off-price outlet, because it has reached an agreement with the discount chain, Marshall's, to sell off its excess merchandise instead. "We found an alternative means of getting rid of all of our merchandise without having to operate a store. And that's a great advantage," Gordon R. Cooke, chief executive officer of Bloomingdale's By Mail Ltd., the catalog subsidiary of Bloomingdale's, said yesterday. Bloomingdale's The Outlet Shop closed its doors last week after arriving at Franklin Mills as an anchor with great hoopla last October.
July 29, 1990 |
Reading China & Glass, one of five anchors at Franklin Mills mall, will vacate its space at the giant discount shopping complex Tuesday. A spokesman for the discount housewares chain said the store had taken more space than it could handle. "We do a fair amount of business, but not enough to maintain that size store," said Jeffrey Brok, senior director of operations. Brok said Reading had tentative plans to open a smaller store at Franklin Mills. "But right now, it's just a consideration," he said.
February 9, 1990 |
Saks Fifth Avenue will open the doors to its first ever retail outlet store tomorrow at Franklin Mills. Covering 25,000 square feet, "The Clearinghouse" will stock off-season merchandise drawn from the upscale retailer's chain of 46 full-service stores around the country. "The accumulation of merchandise that remains from the big chain has to be disposed of in some way," Sidney Mayer, senior vice president of merchandise and planning, said of Saks' decision to finally add an outlet.
November 8, 1991 |
The Goode administration has taken the first step toward giving a tax break to spur expansion of financially troubled Franklin Mills shopping mall. But the Rendell administration will have the last word on whether to extend the lifeline to the sprawling shopping center in Northeast Philadelphia because there is not enough time left this year to complete any deal. Goode yesterday submitted a bill to City Council declaring a specific area around the mall "blighted" so that Franklin Mills could qualify for interest-free loans from the city to help finance a $25-million addition to its 1.4 million square feet.
October 13, 1991 |
The immense Franklin Mills mall, heralded two years ago as a white knight for a wobbly economy, is losing millions of dollars and struggling to stay afloat. Buffeted by poor sales, an inability to get loans, legal battles among its owners and the failure of a third of its stores to pay full rent, the sprawling Northeast Philadelphia mall has turned to the city for a tax break to make new construction affordable. But city officials, who are concerned about the mall's ability to repay debts, are wary of the company's proposal to use a form of city-assisted financing that has never been tried in Philadelphia and has drawn criticism elsewhere.
May 27, 1990 |
On the eve of its one-year anniversary earlier this month, Franklin Mills mall was basking in the national spotlight. In a lavish two-page spread in an April edition of Women's Wear Daily, a leading national publication covering the retail industry, a mall official said sales were averaging $300 per square foot - a figure comfortably above average, according to retail analysts. And nine days before the May 11 anniversary, a segment on the CBS Morning News extolled Franklin Mills as "the shopping mall of the future.
May 5, 1989 |
It may not be quite there yet, but Franklin Mills should be ready in time for its grand opening Thursday. With a $300 million price tag, the shopping mall holds the record as the costliest private development in Philadelphia's history. And the 1.8 million square feet of selling area will make it the biggest single mall in the area. Yesterday, in preparation for next week's opening, the Franklin Mills developers held a tour. Unlike other malls, all of Franklin Mills will be filled with outlet and off-price stores.
April 10, 1993 |
The opening of Nordstrom Factory Direct at Franklin Mills will be postponed until Aug. 5, officials of the Seattle-based Nordstrom's chain said. A Nordstrom executive said it had taken longer than expected to relocate the tenants now in the space Nordstrom will rent. Renovations on the 40,000- square-foot space are to begin this month. The store, which will carry discounted men's and women's clothing and shoes, was to open at the Northeast Philadelphia outlet mall in May. It will be the first Nordstrom-owned store in the Philadelphia region.
March 5, 1992 |
The Rendell administration has rejected a request by the developers of Franklin Mills for help in raising up to $16 million for improvements at the huge outlet mall. In a letter to Herbert S. Miller, chairman and chief executive of Western Development Corp., of Washington, the mall's developer, Rendell said that even the company's most recent, pared-down proposal was "simply too large a financing" for the cash-strapped city to undertake. Hit hard by the recession and its inability to get construction loans, the owner of the Northeast Philadelphia mall originally had asked the city for help in raising $15 million to $25 million under a new state law designed to assist blighted areas.