Retail

Regulators take interest in Simon's play for Prime Outlets

February 27, 2010
Bloomberg News
The Federal Trade Commission has contacted Gap Inc. about Simon Property Group's proposed acquisition of Prime Outlets Acquisition Co.
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NCAA plans to battle counterfeiters during the men's Final Four

February 27, 2010
Scott Olson
A National Collegiate Athletic Association posse will be supplemented by local police officers in search of unlicensed T-shirts and other memorabilia.
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Tech-savvy Scotty's owner eyes national expansion

February 27, 2010
Andrea Muirragui Davis
Scotty watch videoScott Wise has five Scotty's Brewhouse locations and is set to debut the Scotty's Lakehouse concept Monday. Within 10 years, he'd like to have restaurants in the Southeast and on the West Coast.
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Scotty's owner planning to open microbrewery

February 26, 2010
Andrea Muirragui Davis
Indianapolis restaurateur Scott Wise is moving forward with plans to launch Scotty’s Thr3e Wise Men Brewing Co., a microbrewery that will produce craft beer for his eateries and the public. It will share space with another startup craft brewer.
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Battle for General Growth biggest real estate fight in years

February 25, 2010
Bloomberg News
The battle for General Growth Properties Inc., owner of more than 200 U.S. malls, is turning into the biggest real estate skirmish since the sale of Sam Zell's Equity Office Properties Trust.
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Brookfield deal doesn't put Simon out of General Growth game

February 25, 2010
Bloomberg News
The bid by Simon Property was an "initial salvo" and the Brookfield plan likely will prompt a new offer from the Indianapolis-based mall owner, real estate research analyst says.
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Simon's $10 billion bid for bankrupt General Growth roils retailingRestricted Content

February 20, 2010
Cory Schouten
Simon Property Group Inc. already is known for playing hardball with mall tenants over rent. So national retailers like The Gap Inc. and Limited Brands Inc. will be bracing for future lease negotiations if the nation's largest mall owner succeeds in a $10 billion bid to take over its nearest rival, the bankrupt General Growth Properties Inc.
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HHGregg's faster growth boosts risk, potential rewardsRestricted Content

February 13, 2010
Greg Andrews
HHGregg Inc. had been in business nearly a half century when it hit the 50-store mark in 2004. It plans to open nearly that number within the next year.
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Herb Simon purchases Kirkus book review journal

February 11, 2010
Scott Olson
In a move not necessarily stranger than fiction, Herb Simon has bought Kirkus Reviews, the venerable journal of prepublication book reviews. The owner of the Indiana Pacers co-owns an independent bookstore in California and is described as a voracious reader.
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Kmart closing adds to Connersville jobless woes

February 11, 2010
Kmart's announcement that it will close its store in Connersville in May will put 59 employees out of work. Fayette County, where the city is located, already is strapped by steep job losses.
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UPDATE: Steak n Shake confirms new corporate HQ

February 9, 2010
Cory Schouten
The Steak n Shake Co. updated its Web site this week to reflect a new corporate headquarters address in San Antonio, confirming a story in IBJ's Feb. 8 print edition.
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Steak n Shake changing its name, moving HQ to Texas

February 6, 2010
Cory Schouten
Indianapolis is on the verge of losing one of its most prominent public companies. The Steak n Shake Co. is planning to change its name to Biglari Holdings Inc. and move its headquarters to San Antonio. The Steak n Shake restaurant chain would retain a presence in Indianapolis.
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UPDATE: Simon shares climb after profit beats estimates

February 5, 2010
Bloomberg News
The company raised its average rent per square foot at both regional malls and outlet centers even as U.S. consumer spending flagged.
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Simon Property's quarterly profit tumbles

February 5, 2010
Bloomberg News
Quarterly revenue remained flat at about $1 billion, but profit fell 41 percent, from $196.4 million to $115.9 million.
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Simon, partner selling European malls for $981M

February 5, 2010
Bloomberg News
Unibail-Rodamco SE, Europe's biggest shopping-center owner, has agreed to pay Simon Property Group and Ivanhoe Cambridge Inc. $981 million for stakes in seven malls in France and Poland.
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Movie Gallery files second bankruptcy in two years

February 4, 2010
Bloomberg News
The second-largest company in the movie-rental business behind Blockbuster Inc. is immediately closing 760 locations. The chain operates 14 stores in central Indiana, according to its Web site.
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HHGregg's profit, sales rise

February 4, 2010
HHGregg's profit and revenue both increased in its fiscal third quarter, despite a slight dip in same-store sales. The opening of 19 stores helped offset the decrease.
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Independent bookstore in Carmel ends seven-year run

January 30, 2010
 IBJ Staff
The Mystery Co. in the Arts & Design District plans to host a farewell party Jan. 30, and close for good a few days later.
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Steak n Shake posts profit, plans new corporate name

January 29, 2010
Associated Press
Steak n Shake Co. said Friday it posted a fourth-quarter profit, and said it is planning to change its corporate name to Biglari Holdings Inc.
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Panel OKs bill to provide pet buyers with info

January 27, 2010
Associated Press
The bill would require pet stores to put information about the dog or cat on its cage in the store, including the animal's medical history, the name of the breeder and any congenital disorders.
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Rising credit card fees eroding retailers' profits

January 23, 2010
Peter Schnitzler
Businesses say the money they must pay to provide customers the convenience to use plastic adds up. For example, Ricker Oil Co. paid a whopping $3.9 million in 2009, according President Jay Ricker.
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Finish Line forfeits incentive deal

January 20, 2010
Cory Schouten
Mall retailer The Finish Line Inc. has agreed to forfeit a potentially lucrative tax-abatement deal because it won't be able to meet a 2008 promise to create almost 200 jobs and invest $24 million at its Indianapolis headquarters.
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Shoppers World taking former Target space on U.S. 31 South

January 16, 2010
 IBJ Staff
The New York-based department store has one other location in Indianapolis, in Lafayette Square Mall. That store opened in 2008.
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National animal-welfare group targets Steak n Shake

January 14, 2010
Andrea Muirragui Davis
The Humane Society of the United States bought $2,000 worth of Steak n Shake stock this week in hopes of getting the company to work with food producers that use humane farming methods.
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HHGregg shares fall after analyst downgrade

January 13, 2010
 IBJ Staff and Associated Press
Customers are buying fewer high-priced big-screen TVs from electronics chain HHGregg Inc., an analyst said Tuesday as he lowered his investment rating on the company's stock.
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