Retailers

J.C. Penney closing distribution center, laying off 230

July 2, 2012
 IBJ Staff
The distribution center, which opened in 2002 near the Indianapolis International Airport, will close by the end of September, company officials said.
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Finish Line stock jumps after profit exceeds expectations

June 29, 2012
Scott Olson
The Indianapolis-based retailer's profit fell 25 percent in the first quarter, but beat analyst predictions. Shares rose nearly 12 percent on the day.
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Kroger convinces council member of need for gas station

June 26, 2012
Kathleen McLaughlin
Kroger Co. will add a gas station to its store at West 86th Street and Township Line Road after successfully lobbying an Indianapolis City-County Council member who'd threatened to stand in its way.
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PROXY CORNER: Vera Bradley Inc.

June 23, 2012
Vera Bradley Inc., 2208 Production Road, Fort Wayne, Ind., 46808, sells handbags, accessories, paper-and-gift items and travel items through 55 retail stores, nine outlet stores, 3,300 specialty stores and through verabradley.com.
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U.S. retail chains spending billions in bet on growth

June 7, 2012
Bloomberg News
For all the concern that the U.S. economy may be slowing, retailers from Express Inc. to Indianapolis-based Finish Line Inc. are poised to spend the most on capital improvements since the recession.
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MainSource Bank snags prime former Borders space

June 6, 2012
Cory Schouten
MainSource Bank plans to open its first Indianapolis branch in part of the former home of Borders at the southeast corner of Meridian and Washington streets downtown.
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INSIDE DISH: Smokers' haven prepares for ban

May 30, 2012
Mason King
Dish Mass Ave Pub watch videoMass Avenue Pub survived a two-year hiatus in the mid-2000s after a massive infrastructure collapse. Its owners think going smokeless on Friday will be a comparative breeze, even though 65 percent of their clientele like to light up.
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Steak n Shake woos real estate pros

May 23, 2012
Cory Schouten
Steak n Shake made a big splash at the International Council of Shopping Centers deal-making convention in Las Vegas as it pushes an aggressive plan to grow via franchising.
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HHGregg’s profit jumps on life-insurance payout

May 23, 2012
Scott Olson
The Indianapolis-based appliance and electronics retailer on Wednesday reported fiscal quarterly profit of $53.6 million, including $39.6 million from a life insurance policy the company took out on former executive chairman Jerry W. Throgmartin.
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Federal court to hear Steak n Shake franchisee appeal

May 21, 2012
Scott Olson
The case involves an Illinois franchisee of Steak n Shake that successfully sued the company over its mandatory menu and pricing policies. The company's appeal is set to be heard Wednesday by a federal appeals court in Chicago.
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Biz boosters embrace One Click, but it's no sure thingRestricted Content

May 19, 2012
Cory Schouten
Husband-and-wife entrepreneurs Randy and Angie Stocklin started Greenwood-based One Click Ventures out of their home with $20,000 in 2005. They now own a portfolio of niche retail websites, including SunglassWarehouse.com, HandbagHeaven.com and Scarves.net, which brought $5.3 million in revenue last year.
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Business Furniture expands into Ohio with acquisition

May 14, 2012
Indianapolis-based Business Furniture LLC, the city's largest office furniture dealer, has expanded into Ohio by acquiring Everybody’s Workplace Solutions Inc. in Dayton.
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Airport faces fiscal headwindsRestricted Content

May 12, 2012
Chris O'Malley
The Indianapolis Airport Authority recorded a $31.3 million operating loss in 2011, a result that new board President Michael Wells believes underscores the need to find new sources of revenue.
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Marsh CEO Kelley quits for job in New England

May 8, 2012
Cory Schouten
Marsh Supermarkets CEO Joe Kelley abruptly resigned Tuesday, and the Fishers-based chain launched a search for its third chief executive in a little more than a year. The company named Chief Operating Officer Bill Holsworth as its interim CEO.
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Finish Line plans to add 327 jobs as part of expansion

May 1, 2012
The Indianapolis-based retailer of athletic shoes and apparel said it will add the jobs by 2016 as part of a multimillion-dollar expansion that will upgrade its e-commerce systems.
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INSIDE DISH: Nostalgic Shallos does brisk business swiftly

April 27, 2012
Mason King
Dish_Shallos_WatchVideoThe 31-year-old, south-side institution is approaching a potential turning point as it breaks sales records and continues to hone lightning-quick food prep and table turnover.
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Castleton Square will get new stores catering to youthRestricted Content

April 21, 2012
Forever 21 is more than tripling its square footage at the north-side mall by taking the former Borders bookstore space.
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Earth Fare grocery replacing Borders at Hamilton Town Center

April 18, 2012
Cory Schouten
An upscale supermarket chain focused on natural and organic products is taking the former Borders bookstore space at Hamilton Town Center. The store will be the first in Indiana for the privately held chain.
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Finish Line to sell Special Olympics merchandise

April 17, 2012
The agreement to sell the organization's items online and in stores is part of a multiyear partnership in which Indianapolis-based Finish Line has agreed to lend support to Special Olympics.
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Indiana escapes Best Buy's closure plans

April 16, 2012
 IBJ Staff and Associated Press
Indiana isn’t part of Best Buy’s plan to close 50 stores, the electronics retail chain announced over the weekend.
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Hofmeister seeks financing to emerge from bankruptcy

April 6, 2012
Scott Olson
Despite objections from unsecured creditors, a federal bankruptcy judge granted the jeweler's request to hire an outside consultant to help it seek alternative financing to repay the balance of a PNC Bank loan.
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Local automobile dealers enjoy big month of sales

April 5, 2012
 IBJ Staff and Bloomberg News
New car sales nationally rose about 13 percent last month as consumers replaced aging vehicles and took advantage of cheap financing. Sales were way up for many Indianapolis auto dealers.
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Finish Line launches running venture, reports strong sales

March 30, 2012
Cory Schouten
The Finish Line Inc. will partner with a private equity firm to expand its specialty running shops and develop Run.com, the Indianapolis-based retailer said Friday. The company also reported strong fourth-quarter earnings, but its outlook sent shares tumbling.
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INSIDE DISH: Patachou Inc. has full plate with expansion plans

March 28, 2012
Mason King
Dish_Patachou_WatchVideoFounder Martha Hoover expects to open two new restaurants by the end of the year and as many as six more by 2020, including eateries outside central Indiana.
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New hardware store tries to carve out niche near downtown

March 27, 2012
Scott Olson
In a city and industry dominated by big-box home-improvement chains, North Meridian Hardware owner Keith Payne hopes his independent store can build a loyal following among downtown's denizens.
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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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