Retailers

Finish Line shares continue climb after upgrade

November 25, 2013
Associated Press
Two investment analysts raised their ratings for Finish Line on Monday, saying the Indianapolis-based athletic shoe and clothing retailer has the opportunity for margin recovery and a stronger online performance.
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New Carmel company to boot J.C. Penney off S&P 500

November 25, 2013
Bloomberg News
J.C. Penney, which is trying to bounce back from its worst sales year in two decades, will be replaced by Carmel-based electronic security company Allegion, which is being spun off by Irish industrial conglomerate Ingersoll-Rand Plc.
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Americans reluctant to spend on holidays without big deals

November 25, 2013
Associated Press
Since the recession began in late 2007, stores have had to offer financially-strapped Americans ever bigger price cuts just to get them into stores. But those discounts eat away at profit.
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Northwest Indiana restaurants part of El Rodeo raids

November 20, 2013
 IBJ Staff and Associated Press
The raids at La Carreta restaurants in Merrillville and Schererville were part of a larger investigation that targeted El Rodeo restaurants in the Indianapolis area, Lafayette, West Lafayette and Richmond.
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Simon’s decision to open malls on Thanksgiving draws criticism

November 19, 2013
Scott Olson
An online petition drive launched by employees of stores in Simon properties urges the company to rethink a decision to open its malls at 8 p.m. on Thanksgiving. One petition so far has gathered nearly 18,000 signatures.
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Chocolate artisan sets sights on CarmelRestricted Content

November 9, 2013
Shelbyville-based Chocolate for the Spirit is opening a retail storefront in Carmel in time for the holiday shopping season.
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Discount retailers, grocers await impact of food-stamp cut

November 1, 2013
Bloomberg News
With an estimated 8 percent of shoppers using food stamps, the impact will probably be felt most acutely by discount retailers such as Dollar General Corp., Family Dollar Stores Inc. and Wal-Mart Stores, analysts say.
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HHGregg shares slump as profit, sales weaken

October 31, 2013
Scott Olson
HHGregg Inc.’s revenue fell in its latest quarter as the Indianapolis-based electronics and appliance retailer saw a decline in sales of televisions and computers.
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Clock change means extra hour for Indiana bars

October 29, 2013
Associated Press
Indiana bars and liquor stores will be able to stay open an extra hour this weekend as daylight saving time ends for the year.
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Carmel firm's bird feeders perched in 2,700 Walmarts

October 26, 2013
Andrea Muirragui Davis
Sisters Jan Long and Chris Mowery had little more than an idea in 1995 when they trekked to Kmart’s corporate headquarters to pitch a product they thought had potential: a recyclable bird feeder their father had designed to promote his plastics business. They left with their first big contract.
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Pizzeria plagiarism? Napolese suing Crust over close likeness

October 24, 2013
Scott Olson
Cafe Patachou founder Martha Hoover contends the owner of newcomer Crust in Carmel has stolen the look of her Napolese pizzerias and is confusing customers.
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Eight Mattress World locations to rebrand as PureSleep

October 18, 2013
Mason King
The Michigan-based owner of the Indiana mattress stores plans to take them upscale with a signature sleep-diagnostic system.
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Councilor takes aim at Browning's Broad Ripple apartment project

October 1, 2013
Kathleen McLaughlin
At-large City-County Council member Zach Adamson says that even if the apartments-and-grocery project gets an OK from city development officials on Wednesday, he might force an additional hearing.
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Analysts predicting slow holiday shopping season

October 1, 2013
 IBJ Staff and Associated Press
The holiday period is particularly important for retailers this year since spending was weak during the back-to-school shopping period, the second-busiest shopping months of the year.
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Indianapolis Motor Speedway takes bids for food, souvenirsRestricted Content

September 28, 2013
Anthony Schoettle
The Indianapolis Motor Speedway has put its merchandise and food and beverage contracts up for bid for the first time in its 104-year history.
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Finish Line shares surge after jump in profit

September 27, 2013
 IBJ Staff
New products from apparel makers such as Nike helped drive up earnings 6.1 percent in the fiscal second quarter, the Indianapolis-based retailer announced Friday morning. A deal with Macy's also is paying off.
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Biglari shareholder loses bid to stop $75M stock offering

September 20, 2013
Scott Olson
A federal judge rejected the shareholder's motion claiming that the offering would enable CEO Sardar Biglari to unfairly increase his ownership in the company. Biglari Holdings is the parent of Indianapolis-based Steak n Shake.
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Slower holiday sales growth predicted for 2013

September 17, 2013
Associated Press
Holiday shopping is likely to be hurt by the lackluster economy. In addition, there's a shorter shopping window between Black Friday and Christmas. Last year, there were 32 days during the period and this year there are 25.
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Marsh Supermarkets, former CEO spar over attorney fees

September 12, 2013
Scott Olson
The company and Don Marsh each want the other to pay legal bills that, coincidentally, total about $1.7 million each. They stem from a bitter court battle between the two that concluded in July.
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Lids tries to regain glory following fashion shiftRestricted Content

August 31, 2013
Greg Andrews
Genesco’s hat unit now has reported four consecutive quarters of declining same-store sales—an unusual malaise for a business that from 2001 to 2006 posted a miraculous 19 straight quarters of increased same-store sales.
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Indy joins national protest over fast-food wages

August 29, 2013
 IBJ Staff and Bloomberg News
Fast-food workers in 50 U.S. cities, including Indianapolis, plan to walk off the job Thursday in an attempt to ratchet up pressure on McDonald’s Corp., Wendy’s Co. and others to raise wages.
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HHGregg strategy shift vaults stock to 52-week high

August 22, 2013
Scott Olson
The Indianapolis-based appliance and electronics retailer's stock hit a sort of milestone Tuesday, closing above $18 for the first time since early 2011.
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Tepid U.S. retail sales spark concern about economy

August 15, 2013
Associated Press
Bleaker outlooks at retailers like Wal-Mart and Macy's are raising doubts that consumers will spend enough in coming months to lift the still-subpar U.S. economy.
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Broad Ripple apartment project gets preliminary approval

August 15, 2013
Scott Olson
The controversial residential-and-retail development along the Central Canal got the nod from a city hearing examiner on Thursday. A zoning change and variances for the project still require additional approval.
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Indy-based Lids to open 200 outlets in Macy's stores

August 14, 2013
 IBJ Staff
The arrangement is considered an inexpensive way to expand Lids' reach into large, sports-centric cities. But Wednesday's earnings report from Macy's indicates consumers aren't spending as much on apparel.
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  1. PJ - Mall operators like Simon, and most developers/ land owners, establish individual legal entities for each property to avoid having a problem location sink the ship, or simply structure the note to exclude anything but the property acting as collateral. Usually both. The big banks that lend are big boys that know the risks and aren't mad at Simon for forking over the deed and walking away.

  2. Do any of the East side residence think that Macy, JC Penny's and the other national tenants would have letft the mall if they were making money?? I have read several post about how Simon neglected the property but it sounds like the Eastsiders stopped shopping at the mall even when it was full with all of the national retailers that you want to come back to the mall. I used to work at the Dick's at Washington Square and I know for a fact it's the worst performing Dick's in the Indianapolis market. You better start shopping there before it closes also.

  3. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  4. If you only knew....

  5. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

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