On Oct. 23, America lost one of its greatest retailing entrepreneurs, Tom Stemberg, who invented the office superstore industry close to 30 years ago. Tom, a Boston resident was a grocery executive early in his career. He came up with the idea of a supermarket for office products after driving around looking for a typewriter ribbon. He then founded Staples, now a $22 billion worldwide company.
Tanger Outlets announced it has acquired land in Daytona Beach, Florida and plans in to immediately commence construction of its new outlet center development. When complete, the new center will be approximately 350,000 sq. ft. of retail space and feature over 80 upscale brand name and designer outlet retailers.