Discount retailer Five Below is aggressively ratcheting up its growth plans, looking to triple its store count to 3,500 by the end of 2030 and double its sales by 2025 as it creates a shopping experience that caters to younger customers. The Philadelphia-based chain, which now has 1,190 stores in 40 states, unveiled its “Triple-Double” strategy… Read more »
Wells Fargo has announced plans to close 11 more branches, including two in the Philadelphia region and another in the Lehigh Valley. The affected locations cited in a March 15 filing with the Office of the Comptroller of the Currency are: 120 N. Pine St., Langhorne 1110 Chester Pike, Sharon Hill 29 Trembley Drive, on… Read more »
Barstool Sports officially opened its new bar in Center City on Friday morning, launching in the midst of March Madness. The 1213 Sansom St. concept was brought to life alongside Wyomissing casino operator Penn National Gaming (NASDAQ: PENN), which holds a 36% stake in the digital media company. The Philadelphia sports bar takes up the… Read more »
Pennsylvania Real Estate Investment Trust (PREIT), the owner of Plymouth Meeting Mall and Willow Grove Park Mall, has “substantial doubt” about being able to remain in business over the next year, according to the annual report the company filed with the Securities and Exchange Commission, writes Natalie Kostelni for the Philadelphia Business Journal. PREIT made this… Read more »
The owner of Philadelphia healthy food chain Fuel is diversifying his revenue streams by opening new locations, launching a virtual kitchen, and taking to Florida to debut a new concept as it looks to emerge from Covid-19. Fuel, which launched in 2008 and specializes in salads, sandwiches and smoothies, will open an outpost in Northeast… Read more »
Grocery Outlet Bargain Market is continuing its expansion throughout the region and has opened a store in Northeast Philadelphia. The Emeryville, California, chain, which is part of Grocery Outlet Holding Corp. (NASDAQ: GO), entered the region last March when it opened a store in East Norriton. It has since opened a total of eight stores including in… Read more »
The Sears department store at Willow Grove Park Mall in Montgomery County will end a run of more than three decades when it closes for good in the coming months. The closure also will erase the once-dominant department store’s last full-service presence in Pennsylvania, a notable checkpoint in the long-term decline that has seen the… Read more »
AFC Fitness has leased 42,000 square feet at 555 Lancaster Ave. in Radnor and will backfill space vacated by Philadelphia Sports Club. The local owner and operator of fitness facilities in Bala Cynwyd and Feasterville expects to open the new location in June after a more than $4 million renovation that revamps the space to… Read more »
Developer Bart Blatstein has decided to shelve a controversial plan for a Super Wawa that would have fronted the Delaware River along South Columbus Boulevard in Philadelphia and will instead build an expanded retail center without the convenience store. “I’m not going to pursue Wawa and the litigation on Delaware Avenue,” Blatstein said in an interview. His… Read more »
A New York investor has paid $5.34 million for 1617 Walnut St., a two-story building in the center of Philadelphia’s High Street retail corridor. The nearly 7,000-square-foot building was put up for sale in late 2019 by a local family who had it in a trust and listed for $7.5 million. The price that it… Read more »
