Simon raises financial outlook for 2021 after solid first quarter
The Indianapolis-based mall operator said it’s seeing good early results from J.C. Penney, which Simon and a group of co-investors purchased out of bankruptcy in December.
Department Stores
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Simon, partners plan to shake up merchandise mix at J.C. Penney
Simon Property Group, which is expected to acquire J.C. Penney out of bankruptcy with partners in an agreement approved Monday, reported third-quarter results that fell short of Wall Street expectations.
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Retailer Bed Bath & Beyond eliminating both Indianapolis stores
Bed Bath & Beyond Inc. on Tuesday revealed the first 63 closures of the 200 that are planned nationwide over the next two years. The stores on the initial list will close by end of this year.
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J.C. Penney files for bankruptcy, plans to close some stores
The 118-year-old retailer was struggling long before the public health crisis forced it to temporarily shutter all of its stores.
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Discount retailer with 8 central Indiana stores files for bankruptcy, seeks buyer
Store closures due to the coronavirus crisis undermined the department store chain’s parent company and its ability to get financing to continue operations.
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Articles
T.J. Maxx to reopen downtown Indianapolis store next week
The discount clothing and home-goods store closed during last spring’s pandemic stay-at-home orders, then sustained damage during riots and looting in May. It’s set to reopen Sunday.
J.C. Penney to close 154 stores, including two in central Indiana
In all, the department store chain—which filed for bankruptcy protection last month—is closing nine locations in Indiana.
Macy’s aims to use real estate to free up cash
The department store chain would issue new bonds backed by certain property and other assets to bolster its liquidity.
Macy’s to close 125 stores, shed 2,000 corporate jobs
Macy’s said Tuesday it is closing 125 of its least productive stores and cutting 2,000 corporate jobs as the struggling department store tries to reinvent itself in the age of online shopping. The store closures represent about one-fifth of Macy’s current total. They include about 30 that are in the process of closing and account […]
Expect department stores, apparel retailers to continue to retrench in 2020
More than 7,600 stores closed this year through October, a record for that point in the year, according to Credit Suisse. And the outlook for 2020 doesn’t look any brighter.
Department stores making room for used fashion as resale becomes mainstream
The moves mark the most dramatic evidence of how resale is becoming so mainstream that traditional sellers can no longer ignore it.
Kohl’s to begin taking Amazon returns at all stores
Kohl’s has been testing Amazon returns at 100 stores for nearly two years and sees the service as a way to get people in its doors and potentially buy something while they’re there.
Sears sues former chairman Lampert over losses
Sears Holdings Corp. is suing its former chairman and largest shareholder Eddie Lampert, alleging the billionaire stripped the once iconic company of more than $2 billion in assets.
J.C. Penney to close more stores as sales deteriorate
The retailer’s profit tumbled nearly 70 percent and revenue slid 8 percent in the fourth quarter, the most crucial period of the year for retailers who bank on a surge in holiday sales.
Bankruptcy judge blesses $5.2B plan to keep Sears afloat
The approval means roughly 425 stores and 45,000 jobs will be preserved, at least for now.
Sears to survive after chairman prevails in bankruptcy auction
With a bid of more than $5 billion, Eddie Lampert has won a bankruptcy auction for Sears with a plan that will keep the retailer in business and seek to save tens of thousands of jobs.
Goody’s stores to be replaced by Gordmans in six central Indiana cities
Stage Stores Inc., a Houston-based retailer that operates nearly 800 stores nationwide, plans to close six Goody’s stores in central Indiana next month and replace them with Gordmans stores in March.
Macy’s store in Indianapolis set for closure
Macy’s plans to close its store at Glendale Town Center, leaving the 60-year-old Indianapolis shopping center without its largest and oldest anchor.
Sears suppliers haunted by ghosts of Toys ‘R’ Us
Suppliers are still gun-shy after their experience with Toys ‘R’ Us, which went out of business months after filing for Chapter 11 reorganization in the fall of 2017, leaving them with millions of dollars in unpaid bills.
Sears preparing for bankruptcy as soon as this weekend
Sears Holdings Corp., the struggling U.S. retailer owned by hedge fund manager Eddie Lampert, is focused on a deal that would preserve stakeholders’ value in a court restructuring, according to a person with knowledge of the matter.
New Bon-Ton owner has no plan to reopen Carson’s store in Circle Centre
Merrillville-based CSC Generation Holdings Inc., which acquired Bon-Ton’s intellectual property in bankruptcy court, said Indiana was not part of its initial plan to reopen stores.
Sears to close another 46 unprofitable stores in November
The latest closure list includes 13 Kmart stores and 33 Sears stores, including one in Indiana.
Sears Holdings to close Castleton Square mall store
The Castleton Square store is among three in Indiana that the struggling retailer included on its latest closure list.
J.C. Penney CEO leaving to take top spot at Lowe’s
The announced departure of Marvin Ellison on Tuesday sent shares of the struggling department store chain tumbling to an all-time intraday low.