Jennifer Roberts started her current role as CEO of JPMorgan Chase’s consumer banking division in March 2021 while the nation’s largest bank was two years into a bold plan to add 400 new locations in 20 new markets over five years, including 50 in the Philadelphia region. As the bank nears the end of its original timeline,… Read more »
Insomnia Cookies has launched global expansion efforts for the first time in the 20-year-old company’s history, with plans to open stores in Canada and the United Kingdom this summer. The Philadelphia-headquartered cookie and dessert retailer’s international presence will start with one store in the Toronto area and two in Manchester, UK. Over the next few… Read more »
PREIT’s plan to gain approval for multifamily developments at six of its mall properties has now swelled to as many as 7,000 apartments, CEO Joseph Coradino told the Philadelphia Business Journal. After selling off more than 20 malls in the past two decades, the Philadelphia company’s strategy has shifted to maximizing its remaining properties by… Read more »
Eight months after a shooting that killed three people and wounded 11 on Philadelphia’s South Street, businesses in the neighborhood are still feeling the impact of the tragedy. Late last spring, the South Street Headhouse District was attracting about 30,000 visitors on Saturdays before seeing that number cut almost in half immediately following the mass shooting on… Read more »
PREIT has sold a Whole Foods-leased parcel at Plymouth Meeting Mall for $27 million, part of the Philadelphia real estate investment trust’s ongoing plan to raise capital. The buyer was Agree Realty (NYSE: ADC), a REIT based in Bloomfield Hills, Michigan. Since the beginning of 2022, PREIT has sold assets generating $141 million. Asset sales… Read more »
Eyes Gallery has sold its original home to neighboring Jim’s Steaks, another iconic South Street establishment. Both small businesses were devastated by a July 2022 fire that originated in electrical wiring at Jim’s. The cheesesteak spot, which recently shared plans for rebuilding, will expand into the former gallery next door, according to Eyes Gallery owner Julia Zagar… Read more »
Five Below Inc. said it plans to open more than 200 new stores in 2023 and convert 400 stores to its “Five Beyond” format, which features items priced above its traditional $5 threshold. The Philadelphia-based discount retailer revealed its 2023 expansion plans on Monday as it reported that net sales for the holiday season from… Read more »
Wawa plans to open a technology hub at the site of one of its recently shuttered Center City locations, CEO Chris Gheysens said Friday. Gheysens made the announcement during a panel discussion at the Chamber of Commerce for Greater Philadelphia’s 2023 Economic Outlook event. He told the Business Journal that the Delaware County convenience store chain’s space… Read more »
A national luxury mattress retailer is coming to Center City. Saatva, based in New York, will debut its ninth retail viewing room at 1712 Walnut St. in Rittenhouse Square on Feb. 13. The location was previously home to a Wells Fargo Bank branch. The e-commerce brand, founded in 2010, sells mattresses, bedding and other bedroom… Read more »
The rebuild of Jim’s Steaks on South Street has finally begun after the building was damaged by a fire in July, and the almost 47-year-old Philadelphia cheesesteak shop is targeting a Labor Day weekend reopening. After teasing the new blueprints for the building via Twitter last week, President Ken Silver told the Business Journal Jim’s is currently in the interior demolition… Read more »
