The Oxford Valley Mall opened in 1973, developed by The Kravco Company. In 1986, the Gimbels store was converted to Sterns after Allied Stores purchased seven Gimbels locations in the Philadelphia area. The same year, Bamberger's became Macy's. In 1989, Sears replaced Stern's after the latter closed several stores in the Philadelphia area. The mall underwent a renovation in 1990. In 1995, the Oxford Valley Mall opened its food court on the second floor, replacing what had been the second floor of a Woolworth store. In addition, the mall replaced a spiral pedestrian ramp with an elevator and upgraded the air conditioning system. The same year, Wanamakers was converted to Hecht's. In 1997, Hecht's became Strawbridge's after its parent company, May Department Stores, acquired the Strawbridge's chain. In 2006, the Strawbridge's store closed as a result of Federated Department Stores acquiring May Department Stores, with Boscov's taking over the former store. The Boscov's store closed in 2008 as part of their restructuring. Unsubstantiated rumors have circulated for years that the building will be demolished; the latest states that this will occur in Fall 2013. On black Friday 2013 H&M opened as a minor department store.