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Urban Outfitters’ European stores are more productive than its domestic stores

Wednesday July 30th, 2014 08:08:00 PM
The hipster-friendly retailer Urban Outfitters only operates 44 stores in Europe, compared to the relatively massive 442 stores in the United States. A new report, however, shows the retailer’s limited international business is actually more productive than its domestic business.As of 2013, the Philadelphia-based retailer operates 442 stores in the United States and 25 stores in Canada, which accounted for 84.9 percent of its overall sales, according to financial website Trefis. The company’s…

Ironworkers union faces more extortion charges

Wednesday July 30th, 2014 06:55:00 PM
Five former members of Ironworkers Local 401 indicted on racketeering, arson and related charges in February will face two additional counts of extortion, federal prosecutors in Philadelphia said Wednesday.Zane Memeger, U.S. Attorney for the Eastern District of Pa., said the new allegations concern 14 additional acts of extortions, or “night work,” committed at various construction sites in the Philadelphia area, including several local schools.Named in the two new counts are Local 401’s…

Ground to be broken on new outlet center in South Jersey

Wednesday July 30th, 2014 06:48:00 PM
A formal ground breaking is scheduled for next Thursday for the Gloucester Premium Outlets in Gloucester Township, N.J.The project is being constructed in a joint venture with Simon Property Group and Pennsylvania Real Estate Investment Trust.It will consists of 375,000 square feet on 55 acres at Route 42 and the Black Horse Pike. The property cost about $13 million, according to property records. Of that amount, PREIT contributed $3.2 million, according to its quarterly report. PREIT owns 25…

MeetMe reaches 1 million unique users in single day

Wednesday July 30th, 2014 06:29:00 PM
Thanks to a few recent service improvements, New Hope, Pa.-based friend and chat application MeetMe has reached a landmark number of users.According to the company’s records, it had more than 1 million unique mobile users Monday. That’s a milestone, MeetMe chief executive officer Geoff Cook said.It took the company seven years to reach 800,000 mobile daily active users, and another 19 months to reach 900,000. Six weeks after that, it hit 1 million.MeetMe, created in 2005, is a social network…

French BYOB that tops Yelp has owners balancing home life and work

Wednesday July 30th, 2014 06:27:00 PM
When Pierre and Charlotte Calmels first started Bibou, a tiny French BYOB in Bella Vista — the highest rated restaurant by Yelp reviewers — they said they did things quite unconventionally. That is, they had children before they started their own restaurant.It wasn’t easy, but after a few kinks — and a few arguments here and there — they made it work. They were even crazy enough to start a second restaurant, Le Chéri in Rittenhouse Square, last November.Last week, I caught up with…

76ers fighting draft lottery overhaul, says report

Wednesday July 30th, 2014 06:14:00 PM
With the Philadelphia 76ers about to enter Tank 2.0 this season, the team is reportedly fighting the NBA on new rules concerning the NBA draft lottery.ESPN is reporting that the 76ers are one of the most vocal teams against an overhaul to the draft lottery. Under the proposed system, the five or six teams with the worst records during the previous season will have the same odds of winning the No. 1 pick. Currently, the team with the worst record has a 25 percent chance and the odds go down from…

Exclusive: Comcast scouring Center City office market for more space

Wednesday July 30th, 2014 05:23:00 PM
Comcast Corp., continuing to grow, is out in the Center City office market looking for some extra space.The cable company is seeking 65,000 to 75,000 square feet of additional space, according to people familiar with the matter. The company also wants the ability to expand, and that means just a few downtown office buildings can accommodate that arrangement. The short list of properties that could handle that assignment include 11 Penn Center, 10 Penn Center, Centre Square and Two Logan Square.What’s…

$2.5M renovation on 11th Street and Cecil B. Moore athletic fields

Wednesday July 30th, 2014 05:21:00 PM
Work began Wednesday on a new field for the North Philadelphia Blackhawks, a youth football team that won the 2010 Pop Warner Pee Wee National Championship.The $2.5 million renovation project for the athletic fields at 11th Street and Cecil B. Moore Avenue in North Philadelphia will update the fields that were originally built in 1970. The restoration project will involve replacing the existing grass field with new artificial turf, which will cover the entire playing surface including a baseball…

Drexel hosts STEM camp for middle-schoolers, thanks to Peco grant

Wednesday July 30th, 2014 05:19:00 PM
About 25 middle-school students from West Philadelphia are in the midst of a science, technology, engineering and mathematics-focused summer camp, hosted by Drexel University's School of Education. The camp is funded entirely by Peco Energy Co.In 2012, Peco awarded Drexel a $1 million grant to help create a collaborative education program that invests in the local community. About $150,000-$200,000 of the grant was dedicated to the STEM camp, which is now in its third and final year.It began…

Citizens CEO could net more than $12M from company sale

Wednesday July 30th, 2014 04:20:00 PM
Citizens Financial Group CEO Bruce Van Saun could make more than $12 million if the company is sold before its planned public offering.According to a Securities and Exchange Commission filing, if Citizens were acquired prior to the IPO, Van Saun would receive $7.4 million in deferred shares via a long-term incentive plan if he remains at the helm. But if he loses his job or winds up with a reduced management role, Van Saun would be paid $12.3 million — $6.2 million in cash and the rest in deferred…


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