Albert Boscov, an American retail tycoon who spent the last half century as Reading, Pennsylvania's civic patron, died Friday, his son, Jim, said. He was 87.

Boscov took over the family retail business decades ago from his father, who founded the company in 1914, and proceeded to grow it into a giant in the eastern United States.

It now has 50 stores, with more than $1 billion in sales, and employs more than 7,500.

"Albert Boscov was truly one of the giants in the retail industry," company CEO Jim Boscov said in a statement. "He was a man of vision and passion and he had a profound influence on the retail business community and the community at large."

The Boscovs have been part of the civic landscape in Berks and Lancaster counties for more than a century when Solomon Boscov, Albert's father, first started his own business. He peddled goods to farmers in the region, the Reading Eagle reported.

His nonprofit was responsible for building Reading's arts center, and the Berks County Convention Center Authority installed a statue of him in the heart of the small city, at Second and Washington streets. The area is now known as the Albert Boscov Plaza.