Judge declines to dismiss $6.5M Andy Mohr jury award
Volvo Trucks North America had requested that the verdict be thrown out, arguing that “no reasonable jury could award damages” based on the evidence presented at trial.
Retail
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Future of high-profile Zionsville property thrust into uncertainty
Pittman Partners LLC had proposed a $90 million, mixed-use project known as The Farm near the southwest corner of U.S. 421 and Sycamore Street. It recently withdrew from the project, and a new developer is being sought.
Hofmeister faces $2.4M suit over Clearwater jewelry store
The foreclosure lawsuit is the latest legal problem for the 43-year-old retailer, which is still trying to pay off debt from a Chapter 11 bankruptcy it filed in 2011.
Pittman Partners drops plans to develop $90M Zionsville project
The decision by Pittman Partners principal Steve Pittman is the latest sign of strife among siblings of Dr. John Pittman, a Carmel developer who died in 2014. Another sibling, Mark Pittman, now is leading efforts to line up an alternative developer.
Sears to explore sales of Kenmore, Craftsman, DieHard brands
Sears Holdings Corp. may turn to asset sales of some of America’s iconic brands to generate cash amid continued losses.
Cheaper beef makes return just in time for grilling season
Americans celebrating Memorial Day this weekend have a pleasant surprise coming their way: the cheapest retail prices for ground beef in two years.
HHGregg chief executive hoping to shed interim tag
Robert Riesbeck, the company’s chief financial officer, has served as the struggling retailer’s CEO on a temporary basis since February but wants the title to become permanent.
Frozen food recall covers many stores, several years
It's one of the largest food recalls in recent memory, with well over 400 products sold under more than 40 different brand names at major retailers including Costco, Target, Trader Joe’s and Safeway.
In dark quarter for retailers, Wal-Mart manages to shine
Surprisingly strong sales at Wal-Mart Stores Inc. and an optimistic outlook from the world's largest retailer lifted a pall that settled over much of the sector in the past two weeks.
Changes in retail expand gulf between haves, have-nots
It turns out that Simon Property Group spun off its less profitable malls and zeroed in on high-end properties at just the right times. Analysts say middling malls are losing out as retailers decide where to pare locations.
Target leads other retail stocks downward on weak sales
Target Corp., which has 30 stores in Indiana, suffered its biggest intraday stock decline since 2008 Wednesday after it reported slowing sales.
Retail REITs feeling shopping mall pain, except for Simon
Unlike some of its peers, Indianapolis-based Simon Property Group continues to attract star tenants such as Nike and Apple, command higher rents, and get attractive financing terms.
Home Depot manages to rise above retail fray
Home Depot, which has eight stores in the Indianapolis area, bucked the trend of many national retailers when it provided its financial outlook Tuesday morning.
RoomPlace plans to reopen long-vacant Levitz store, warehouse
Lombard, Illinois-based furniture retailer RoomPlace has acquired the massive and long-vacant Levitz Furniture building on East Washington Street and plans to renovate it into a showroom and warehouse, city officials announced Monday morning.
Duluth Trading Co. planning store in Noblesville
The Wisconsin-based men’s and women’s workwear retailer, which raised $80 million in an IPO last year, has filed plans to build a store next to Cabela’s near Hamilton Town Center.
U.S. retail sales show solid gain despite woes at store chains
April’s sales gains paint a healthier picture of retail spending than did a slew of troubling reports released this week by Macy’s, Nordstrom, Kohl’s and J.C. Penney.
Jonathan Byrd’s closes Greenwood restaurant as it shifts focus north
The south side institution said on its Facebook page that it has “run its course in Greenwood,” although the Byrd Conference Center there will continue operations.
Former Logo Athletic president named CEO of Lids
David Baxter has been named president and CEO at Zionsville-based Lids Sports Group, succeeding former president Kenneth Kocher, who resigned in February after more than 10 years in the position.
Kohl’s Corp. joins other retailers with slumping sales
Shares in Kohl’s Corp. slid almost 9 percent in morning trading Thursday after the retailer with 13 Indianapolis-area stores reported first-quarter results that missed analysts’ estimates.
Egg prices near 5-year low as farms recover from bird-flu crisis
The cost of making everything from quiches to cakes is less than before avian influenza killed more than 35 million laying hens and the government spent $1 billion to prevent the disease from spreading.