Retail

Simon posts strong quarter as mall occupancy strengthens

January 31, 2014
 IBJ Staff and Bloomberg News
Occupancy in Simon's malls climbed to 96.1 percent in the fourth quarter, up from 95.3 percent in the year-ago period as total sales per square foot increased to $582 from $568.
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Weak sales lead HHGregg to post smaller profit

January 30, 2014
Scott Olson
Shares of the Indianapolis-based retailer had fallen 18 percent by early afternoon Thursday, after the firm reported slumping sales and profit in its latest quarter.
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Speedway stores cited for beer sales on Christmas

January 30, 2014
 Associated Press and IBJ Staff
Indiana State Excise Police have cited 109 Speedway convenience stores in Indiana, accusing them of illegally selling beer on Christmas.
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New owner for 14 West building targeting another restaurant

January 28, 2014
Scott Olson
A recently retired CEO bought the historic building at 14 W. Maryland St. After renovations, he hopes to attract a national chain to the space.
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Court bars Indianapolis’ hour limits on adult bookstores

January 28, 2014
Indiana Lawyer Staff, Dave Stafford
The 7th Circuit Court of Appeals in Chicago has tossed an Indianapolis ordinance limiting the business hours of adult bookstores from 10 a.m. to midnight Monday through Saturday.
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Biglari's Steak n Shake licensing deal stirs up criticsRestricted Content

January 25, 2014
Greg Andrews
Under the 20-year deal, Sardar Biglari won’t receive royalties if he remains atop the company. But if he were forced out of for anything but malfeasance, or if it were sold, he’d receive 2.5 percent of sales for five years—a sum that could surpass $100 million.
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Westfield center brings nearly $3.6MRestricted Content

January 25, 2014
Marcus & Millichap listed the property at 701 E. Main St., which brought nearly $3.6 million, or 95 percent of the asking price.
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Giant Eagle store coming to The Bridges in Carmel

January 23, 2014
Scott Olson
The Pittsburgh-based supermarket officially announced that it will build a Market District grocery store in the development, along with a GetGo convenience store and fuel station. The stores should open in 2015.
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New owners plan changes at Metropolis mall

January 23, 2014
Scott Olson
A joint venture involving a Memphis-based developer has purchased the shopping center in Plainfield and plans to invest millions to update the troubled property. A name change also is a possibility.
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Tougher penalties sought for drug ‘look-a-likes’

January 23, 2014
Ryanne Wise, The Statehouse File
The intent of Senate Bill 305 is to deter retailers and dealers from selling “look-a-like” drugs that are potentially more dangerous than the drugs they mimic.
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Postal Service, union wrangle over Staples outlets

January 20, 2014
Associated Press
The new outlets are staffed by Staples employees, not postal workers, and labor officials say that move replaces good-paying union jobs with low-wage, nonunion workers.
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After 9-year hiatus, Caplinger family opens new fish marketRestricted Content

January 18, 2014
Scott Olson
Veteran seafood operators Nick and Andrew Caplinger opened a shop in December at East 75th Street and Shadeland Avenue that boasts a wide variety of fresh fish.
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New grocer's arrival adds to questions about MarshRestricted Content

January 18, 2014
Greg Andrews
Because Pittsburgh-based Giant Eagle wants to enter the Indianapolis market, you'd think it would initiate discussions to buy Marsh Supermarkets, which has been hanging a for-sale banner for years. But a Giant Eagle spokesman said there have been no discussions.
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Holiday sales meet expectations after deep discounting

January 14, 2014
Associated Press
Holiday sales rose 3.8 percent from last year, just shy of the forecast, the National Retail Federation said Tuesday. But sales came at the expense of profit as stores had to discount early and often to get shoppers to spend money.
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Archiver's chain closing all stores, including two in Indy

January 13, 2014
 IBJ Staff
The closures will cost 21 local employees their jobs in mid-February.
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Indiana gold dealers operate under new rules

January 13, 2014
Associated Press
Indiana "cash for gold" dealers now must register with the secretary of state and local police as part of a new state law designed to help authorities track stolen jewelry.
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Napolese nibbles on national expansionRestricted Content

January 11, 2014
Scott Olson
Local restaurateur Martha Hoover plans to take her Napolese chain national with help from Simon Property Group Inc.
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Pupils learn to talk fast, sell well in auctioneering school

January 11, 2014
Sam Stall
Melissa Davis is a third-generation auctioneer and president of Reppert School of Auctioneering. She helps lead quarterly courses running 10 days straight.
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Hat World plans include new HQ, hiring 758 workers

January 10, 2014
Scott Olson
The Indy-based retailer that operates nationally as Lids plans to build a 150,000-square-foot headquarters in Zionsville, beef up local distribution operations, and go on a major hiring spree.
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Lids parent plans 'major' jobs announcement

January 10, 2014
 IBJ Staff
The Governor's office said it plans to make "a major economic development announcement" Friday morning "regarding hundreds of new jobs for Hoosiers" at the headquarters of Hat World Inc.  in Indianapolis.
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Marsh to shut down 8 stores by end of month

January 9, 2014
Scott Olson
The closings, which include five in the Indianapolis market, will leave the chain with 78 stores in two states.
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HHGregg reports disappointing holiday sales

January 6, 2014
Scott Olson
The Indianapolis-based electronics and appliance retailer said its fiscal third-quarter sales during the holiday season were hurt by competitors offering deeper discounts.
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Car guy falls in love with Tesla after visiting new local dealership—and taking a drive

January 4, 2014
Chris O'Malley
The new electric-powered Tesla Model S corners a lot like a Lamborghini and has more than twice the range of a Nissan Leaf.
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Circle Centre nears deals for Burger Palace, Yard House, LA Fitness

January 3, 2014
Scott Olson
Three prominent restaurant chains, including one developed by Bobby Flay, and a health club franchise are eying the vacant space formerly occupied by Nordstrom in Circle Centre.
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Cord Camera to close remaining Indianapolis store

January 1, 2014
Associated Press
A camera business that once had more than 30 locations in Ohio and Indiana is closing six of its remaining eight stores in the face of dropping sales and increased use of smartphone cameras.
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  1. With Pence running the ship good luck with a new government building on the site. He does everything on the cheap except unnecessary roads line a new beltway( like we need that). Things like state of the art office buildings and light rail will never be seen as an asset to these types. They don't get that these are the things that help a city prosper.

  2. Does the $100,000,000,000 include salaries for members of Congress?

  3. "But that doesn't change how the piece plays to most of the people who will see it." If it stands out so little during the day as you seem to suggest maybe most of the people who actually see it will be those present when it is dark enough to experience its full effects.

  4. That's the mentality of most retail marketers. In this case Leo was asked to build the brand. HHG then had a bad sales quarter and rather than stay the course, now want to go back to the schlock that Zimmerman provides (at a considerable cut in price.) And while HHG salesmen are, by far, the pushiest salesmen I have ever experienced, I believe they are NOT paid on commission. But that doesn't mean they aren't trained to be aggressive.

  5. The reason HHG's sales team hits you from the moment you walk through the door is the same reason car salesmen do the same thing: Commission. HHG's folks are paid by commission they and need to hit sales targets or get cut, while BB does not. The sales figures are aggressive, so turnover rate is high. Electronics are the largest commission earners along with non-needed warranties, service plans etc, known in the industry as 'cheese'. The wholesale base price is listed on the cryptic price tag in the string of numbers near the bar code. Know how to decipher it and you get things at cost, with little to no commission to the sales persons. Whether or not this is fair, is more of a moral question than a financial one.

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