Retailers

HHGregg launches rebranding effort to improve sales

May 6, 2014
Scott Olson
The electronics and appliance chain has unveiled a new logo and advertising spots, in addition to improvements to its website and delivery service, as it attempts to keep pace with competitors.
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Office Depot to close 400 stores nationwide

May 6, 2014
Associated Press
Office Depot has at least seven stores in the area, according to its website, including three locations in Indianapolis and single stores in Carmel, Anderson, Greenwood and Avon.
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Target CEO Steinhafel out in wake of data breach

May 5, 2014
Associated Press
The nation's third-largest retailer, which has 13 stores in the Indianapolis area, has struggled to regain its footing in the five months since hackers stole credit and debit card information on tens of millions of customers.
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Exec from struggling RadioShack joins HHGregg

April 30, 2014
 IBJ Staff
In joining the Indianapolis-based firm as COO, Troy Risch trades one big retailer struggling to find its footing for another.
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Finish Line increases stake in running division

April 25, 2014
The Indianapolis-based athletics retailer bought a larger share in the Running Specialty Group, a chain that operates 49 stores in 11 states.
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Simon posts strong quarter on higher mall occupancy

April 22, 2014
Scott Olson
The nation's largest mall owner reported a 16.1-percent increase in first-quarter funds from operations as demand for retail space in outlet centers climbed.
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Wal-Mart jumps into the money-transfer biz, loudly

April 18, 2014
Associated Press
The world's largest retailer introduced a new money-transfer service Thursday that it says will cut fees for its low-income customers by up to 50 percent compared with similar services elsewhere.
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HHGregg shares plummet on warning of weak sales quarter

April 15, 2014
Scott Olson
The Indianapolis-based retailer announced disappointing preliminary sales figures on Tuesday morning for its fiscal fourth quarter, which it blamed on horrendous weather in major markets.
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Monthly retail sales jump by the most in 18 months

April 14, 2014
Associated Press
Sales of autos climbed 3.1 percent while sales at general merchandise stores, a category that covers retailers such as Wal-Mart and Target and department stores, increased 1.9 percent.
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Retailer Coldwater Creek going out of business

April 11, 2014
 Bloomberg News and IBJ Staff
Coldwater Creek Inc., a 362-store women’s clothing chain that has four stores in Indianapolis-area malls, filed a Chapter 11 petition Friday to liquidate inventory in going-out-business sales to begin in time for Mother’s Day.
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Family Dollar to close about 370 stores, cut jobs

April 10, 2014
Associated Press
The discount retailer, which operates nearly 50 stores in Indianapolis, said it will shut down underperforming stores as it tries to reverse sagging sales and earnings.
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Former HHGregg COO hired to lead bicycle retailer

April 1, 2014
Scott Olson
BikeStreet announced Monday that it has hired Gregg W. Throgmartin as its CEO, the same day as his departure from HHGregg became official.
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Shadeland Station shopping center bought for $9.5M

March 28, 2014
New York-based Time Equities Inc. acquired the northeast-side property that is anchored by a Marsh supermarket and 85-percent occupied.
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Finish Line reports rising quarterly, annual earnings

March 28, 2014
A jump in same-store sales and improvements to the sports-apparel retailer's website helped the company report a better-than-expected profit in its fiscal fourth quarter.
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Cabela’s chooses Noblesville for first central Indiana store

March 20, 2014
Scott Olson
The announcement from the Nebraska-based outdoor retailer comes five years after it abandoned plans to build a store near Interstate 65 and County Line Road in Greenwood.
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U.S. retail sales rebound after two slow months

March 13, 2014
Associated Press
Retail sales bounced back in February after suffering a steep decline during a bitterly cold January. Shoppers spent more on autos, clothing and furniture, the Commerce Department said.
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New grocery chain plans three local stores

March 7, 2014
Jeff Newman
Fresh Thyme Farmers Market, a Phoenix-based specialty grocery startup that plans to open its first eight stores this year, has decided on three locations in Indianapolis.
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Office retailer Staples plans to shut down 225 stores

March 7, 2014
Bloomberg News
Staples Inc., the largest U.S. office-supplies retail chain, will close as many as 12 percent of its North American stores and cut as much as $500 million in costs as online competition continues to hurt sales.
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RadioShack closing 1,100 stores as troubles grow

March 4, 2014
Associated Press
The closures represent just the latest setback for RadioShack, which has been struggling to update its image and compete with the rise of online retailers in recent years.
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Indiana mall's 'hoodie' signs offend some patrons

March 2, 2014
 Associated Press and IBJ Staff
The signs at the entrances of the Mounds Mall in Anderson state that, "For the safety & well-being of everyone, please lower your hoodie."
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Zionsville sticks with big-box ban despite growth push

February 15, 2014
Andrea Muirragui Davis
Even as retail development continues to proliferate just outside Zionsville’s borders, town officials say they remain committed to an 8-year-old zoning ordinance banning big-box stores.
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CVS Caremark to stop selling tobacco products

February 5, 2014
Associated Press
The nation's second-largest drugstore chain said Wednesday that it will phase out cigarettes, cigars and chewing tobacco by Oct. 1, a move that will cost it about $2 billion in annual revenue.
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Champps restaurants likely to survive parent's bankruptcy

January 31, 2014
 IBJ Staff and Bloomberg News
The bankruptcy of a Kansas restaurant company has cast uncertainty over the future of its five Indianapolis-area restaurants—three Chammps Americanas and two Fox and Hounds.
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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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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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