It' official. King Of Prussia Penney is closing (Plymouth, Plymouth Meeting: apartment complex, refrigerators)

[kyb01]

Originally Posted by HappyRider

Primark is a glorified Kmart. I don't know how you can bring them in and keep Boscov's out in the name of upscale shopping.

Simon Properties(KoP's management) manages a number of outlet type malls through out the country, so they seem to understand that kind of retail model. But with the upscale push they are doing at KoP, Boscov's may not be a good fit. But, who knows? We will find out soon enough what they intend to do with that space. Maybe Kohl's would be interested.

[1ondoner]

I've shopped at both Primark and Boscov's. Primark is NOT K-Mart. I did buy stuff for my nephews and nieces, I can't remember if my kids bought anything. My mum also bought stuff at the KOP Primark, though I don't know whom she was buying stuff for. She bought a lot of stuff that definitely was not hers and I did not bother finding out what she was buying.

I've also been at Boscov's and I could get stuff that I liked. My dad had better luck and I dropped him a couple of times at Boscov's. I have no idea what or whom he was shopping for. They like buying stuff for their grand kids plus other relatives, so I can't tell what they were buying and I've never bothered to find out.

On the other hand, my folks have been to JC Penny but I don't think they bought anything.

Originally Posted by timeEd32

1) Primark is not Kmart. It sells lots of cheap clothing (and it's obviously very questionable how they get made), but they sell things people want to wear.

2) It appeals to young people, which is pretty much the exact opposite of Boscov's

[cpomp]

That is sad about Penneys though. The KoP Penneys was actually one of the nicer ones because it catered to a wealthier demographic, they even had a nice home section.


Since I am late to the discussion, a Saks would be amazing in KoP, especially since the other Saks is far away. However, as someone said Macys should move to Penney spot, because that end of the mall is more middle of the road retailers, so a Saks would be out of place. I also think moving Macys would help with the foot traffic on that end of the mall since Macys is probably the busiest department store in the mall (Nordstrom might be number 1).


I actually have a friend who works in Saks management, I will ask if there are any possible expansions to KoP in the works!


Bergdorf would do well in KoP, but that would be their only location outside of Manhattan, so KoP would have to beat out every other location in the nation to land them, which is tough. Plus I remember BG made a statement a while back saying they love that they are exclusive to Manhattan.


Barneys is a possibility, but again, big move for them since they are very slow to open new stores.


Also, bad for Philadelphia Mills losing an anchor store. Are there any JC Penneys left in the area?

[cpomp]

I texted my friend, he has not heard anything about an Saks expansion to KoP.

[tyrell12]

Originally Posted by RightonWalnut

In KOP, they should move Macy's to where JC Penney is now, and shoot for Bergdorf Goodman, or Saks Fifth Avenue in the current Macy's space.

Originally Posted by cpomp

However, as someone said Macys should move to Penney spot, because that end of the mall is more middle of the road retailers, so a Saks would be out of place. I also think moving Macys would help with the foot traffic on that end of the mall since Macys is probably the busiest department store in the mall (Nordstrom might be number 1).

It's probably not in Macy's benefit to be moved or assume that location though, especially if they are drawing in solid business in it's current location. I seem to recall some plan to redevelop Quaker Bridge Mall with JCPenney moving somewhere else to accomodate Nordstrom.

Nordstrom even had a press release:
http://press.nordstrom.com/phoenix.z...cle&ID=1022651

Even after the recession, it didn't seem logical for JCPenney (if they were content with their site to be shifted). Quaker Bridge was spruced up but didn't have the expansion with a Nordstrom.

The question is did JCPenney own their King of Prussia location? If not, it's possible they were priced out. To me, it makes no sense otherwise to keep Montgomery over King of Prussia if rent wasn't involved. All I can find is that JCPenney owns 306 stores nationwide.

Boscov's likely won't come because they wouldn't go for a high rent space either. Boscov's already serves Exton, Granite Run and Plymouth Meeting, so a new store in the middle would dilute from any to all three of those stores.

I can't speak about more upscale department stores, but that maybe another one is an option.

Would a Whole Foods work there? Whole Foods tends to go in high cost, high rent areas. However, it already has a store listed at 821 W Lancaster Ave, Wayne, PA but from google maps, it looks like a smaller store, so maybe they could relocate or keep a new store?

[southbound_295]

Originally Posted by 1ondoner

JC Penney has failed to keep up with the times. Just like Sears.

One notable mention at KOP is the Primark store. I remember way back when Primark used to be a dull retailer. May be it is still is because I don't recall seeing a more colorful Primark store in the UK like the KOP store.

You probably don't know that Sears & Penney's were originally catalogue stores. Their best bet is probably to close stores as leases expire & shift to online for a while.

[kyb01]

Originally Posted by cpomp

That is sad about Penneys though. The KoP Penneys was actually one of the nicer ones because it catered to a wealthier demographic, they even had a nice home section.


Since I am late to the discussion, a Saks would be amazing in KoP, especially since the other Saks is far away. However, as someone said Macys should move to Penney spot, because that end of the mall is more middle of the road retailers, so a Saks would be out of place. I also think moving Macys would help with the foot traffic on that end of the mall since Macys is probably the busiest department store in the mall (Nordstrom might be number 1).


I actually have a friend who works in Saks management, I will ask if there are any possible expansions to KoP in the works!


Bergdorf would do well in KoP, but that would be their only location outside of Manhattan, so KoP would have to beat out every other location in the nation to land them, which is tough. Plus I remember BG made a statement a while back saying they love that they are exclusive to Manhattan.


Barneys is a possibility, but again, big move for them since they are very slow to open new stores.


Also, bad for Philadelphia Mills losing an anchor store. Are there any JC Penneys left in the area?

It is a shame about Penny's. They had some tough times before, 10-15 years ago....about the time the store in the Gallery closed.
Remains to be seen whether they can come out of this latest re-trenchment. I didn't check. Is there still a Penny's in Cherry Hill Mall?

Saks would be great! And I mentioned, upthread, Bergdorf's would be unbelievable! A coup as I said! But, yes, just too unlikely.

[kyb01]

Originally Posted by southbound_295

You probably don't know that Sears & Penney's were originally catalogue stores. Their best bet is probably to close stores as leases expire & shift to online for a while.

For a while?? Online shopping may be the only means they have regarding survival.

[cpomp]

Originally Posted by tyrell12

Would a Whole Foods work there? Whole Foods tends to go in high cost, high rent areas. However, it already has a store listed at 821 W Lancaster Ave, Wayne, PA but from google maps, it looks like a smaller store, so maybe they could relocate or keep a new store?

Actually a Whole Foods isn't a bad idea, I think Wayne is far away enough to support another one in KoP.


There is also a chance of an entertainment setup, similar to what Granite Run Mall is doing with the Bowling Alley. KoP already has a mega movie theater so another wouldn't work.


They could also tear down the department store and build more specialty stores or apartments possibly. Tons of potential opportunities.

[tyrell12]

Originally Posted by cpomp

They could also tear down the department store and build more specialty stores or apartments possibly. Tons of potential opportunities.

Some more information: The KoP JCPenney site was originally Gimbels, then Sterns and is currently JCPenney, which will have a 25 year run. So it's possible that JCPenney was priced out of King of Prussia going forward, more so than this particular store being an under-performer. This site would have to be an over-performer, relative to other Penneys, if rent/sq ft were to escalate high. It would need a lot of sales and profitable items to be sold, essentially to keep the store open, which they might figure is unrealistic.

I agree that this site will be torn down, for other types of retail.

I doubt apartments will be a possibility, though. It doesn't seem like Simon does the mix of apartments in malls, and they would look for other retail concepts first anyways.

The former Wanamaker/Boscov building at Oxford Valley Mall should have been converted to luxury apartments already, and that area feels more secluded for privacy, where luxury apartments might be desirable. I'm surprised that this site remains dormant for new activity.

I've been to the Florida Mall, that is also owned by Simon. It has a hotel as a tenant, the Florida Hotel, where one can walk from the hotel lobby to the enclosed portion of the mall without going outside, so maybe such could be done at King of Prussia, though.