Retail

Shopping malls brace for wave of consolidation

October 1, 2014
Bloomberg News
There's a hunger in the retail industry for lower-tier, "B" shopping centers, seen as a bargain by potential owners. A $4.3 billion deal in the works involving a Simon Property Group spinoff could trigger more transactions.
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Washington Square Mall losing biggest tenant

September 29, 2014
Jeff Newman
Sears Roebuck and Co. plans to close its 194,680-square-foot anchor store in early December, the retailer confirmed Monday. A liquidation sale began Friday.
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Reservoir talk not moving Mounds shopping mall

September 29, 2014
Associated Press
Mounds Mall leasing official Jesse Wilkerson said new tenants are being actively sought for the mall, but it is exploring options for relocating, if necessary.
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Local Kmart closings part of Sears' ongoing woes

September 26, 2014
Jeff Newman
The planned closings of two Kmart stores in Indianapolis are part of a wave of national closures prompted by the ongoing struggles of parent company Sears Holdings Corp.
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Finish Line shares fall after quarterly results miss mark

September 26, 2014
 IBJ Staff and Bloomberg News
Shares in The Finish Line Inc. dropped as much as 12 percent Friday morning after the company reported second-quarter earnings and revenue that fell short of analyst expectations.
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Second suit filed over Wal-Mart PCB contamination

September 25, 2014
Indiana Lawyer Staff
The class-action suit seeks compensation for any worker injuries resulting from exposure to PCBs discovered in the retailer's return center on the east side.
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Jimmy John’s says hacker stole credit-card data at 216 stores

September 24, 2014
 Bloomberg News and IBJ Staff
The data breach affected a dozen stores in Indiana, including four in Indianapolis and one in Carmel.
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Meijer planning to build store in Glendale area

September 22, 2014
Scott Olson
The big-box retailer wants to create a 200,000-square-foot store at the southwest corner of 56th Street and Keystone Avenue in a project that would dramatically recast a section of one of the city's busiest commercial corridors.
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One Click prunes e-commerce sites, launches eyewear brandRestricted Content

September 20, 2014
 IBJ Staff
One Click Ventures, known for its variety of e-commerce sites, recently launched a new website and sold off others as it strives to meet hiring goals tied to economic development incentives.
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Wal-Mart targeted by lawsuit for local PCB discovery

September 18, 2014
Scott Olson
The complaint stems from the discovery of the carcinogen at a Wal-Mart return center on the east side of Indianapolis. The suit seeks class-action status on behalf of its 600 workers.
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Kohl's plans surge in holiday hiring nationally, locally

September 17, 2014
 Associated Press and IBJ Staff
About 2,000 of those hirings will take place in Indiana, including about 900 in the Indianapolis area. Kohl's has 39 stores in Indiana, and 18 in the metro area.<
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Greenwood eyes more land for development along I-65

September 16, 2014
Scott Olson
Though plans for a $22 million hotel and indoor sports complex seem in jeopardy, the city of Greenwood has other projects in the works along Interstate 65, including a new interchange and possibly an apartment development.
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Bub's Burgers planning $1.3M outpost in Fishers

September 11, 2014
Andrea Muirragui Davis
Central Indiana favorite Bub’s Burgers and Ice Cream has chosen downtown Fishers to build its fourth restaurant, town officials announced Thursday evening.
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HHGregg hires former Marsh exec as CFO

September 11, 2014
Jeff Newman
Indianapolis-based HHGregg Inc. has hired former Marsh Supermarkets executive Robert J. Riesbeck as its new chief financial officer, the appliances and electronics retailer announced Thursday.
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Kroger quarterly results beat market expectations

September 11, 2014
Associated Press
Kroger Co., the leading grocer in Indianapolis in terms of market share, on Thursday reported earnings of $347 million in its fiscal second quarter, exceeding analyst expectations.
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Simon Property CEO says ‘no deal’ in Australia after report

September 9, 2014
Bloomberg News
The Australian reported that Indianapolis-based Simon may bid for CFS Retail, potentially keeping CFS’s premium shopping centers and selling second-tier properties.
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Ideal owners needed for tricky north-side properties

September 6, 2014
Andrea Muirragui Davis
Size and age complicate the sale of several prominent structures in Boone and Hamilton counties.
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Shapiro's to open restaurant in Fashion Mall

September 4, 2014
Jeff Newman
The 4,200-square-foot restaurant will be about 60 percent smaller than Shapiro’s downtown flagship location, but will carry most of the same menu items the deli is known for, plus some new ones.
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Smarter Remarketer gets $7M in fundingRestricted Content

August 30, 2014
Smarter Remarketer, an Indianapolis-based retail technology firm, said Aug. 27 that it has lined up $7 million in venture debt financing from Los Angeles-based City National Bank.
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$1.25M from Finish Line helping build kids’ clubRestricted Content

August 30, 2014
Boys & Girls Clubs of Indianapolis broke ground Aug. 27 on a 22,000-square-foot facility on the east side.
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Local Lotus dealership is one of only 42 in United States

August 30, 2014
Scott Olson
Gator Motorsport opened in October as Indiana’s sole Lotus dealer. It’s owned by 41-year-old Young Kim, a first-generation Korean immigrant and Ball State University grad who fell in love with the British hand-built brand as a youngster growing up in Chicago.
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Antiques shop liquidation expected to draw big crowd

August 28, 2014
Associated Press
Red Ribbon Antiques, which opened its doors on Main Street in 1989, will open them one final time Sept. 6 to liquidate the inventory Gloria Holloway established over her 25-year business career.
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Simon hands over Washington Square to lender

August 22, 2014
Scott Olson
Simon Property Group Inc. has given up on the struggling Washington Square Mall, turning over control to a lender.
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Noble Roman's dough rises with higher profit, revenue

August 12, 2014
Scott Olson
The Indianapolis-based franchisor continues to focus on offering take-and-bake pizzas in grocery stores and stand-alone locations to grow revenue.
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Steak n Shake bringing menu fixtures to the freezer aisle

August 9, 2014
Scott Olson
Officials of the 80-year-old chain believe selling steakburgers in groceries will further extend the Steak n Shake brand.
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