Finish Line stock jumps after profit exceeds expectations
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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A year later, Circle Centre Nordstrom vacancy lingers
Without a rapid-fire lease deal and renovation, the former Nordstrom anchor space at Circle Centre will sit idle for a second holiday season. The more general-audience-oriented department store chain Macy’s remains the odds-on favorite to replace Nordstrom, though it would take only a portion of the available space.
LEADING QUESTIONS: Big Car director helps drive growth
The Big Car arts collective is shifting into a higher gear, with a budget this year of $250,000, a new westside events hub, and a paid staff that no longer fits into a sedan. Executive Director Jim Walker provides a front-seat view.
Kroger convinces council member of need for gas station
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.
PROXY CORNER: Vera Bradley Inc.
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.
Indianapolis airport getting gas station
A long-awaited gas station at Indianapolis International Airport is to open by the middle of next year. Plans call for the facility to include a fast-food restaurant, service bay and car wash.
Red Gold benefits from consumers’ thrifty ways
Since the recession hit, consumers looking to save a few bucks have embraced canned produce—a trend that has kept Madison County tomato processor Red Gold in the black.
Burd Ford dealership closing by end of June
Manager Jon Parson told IBJ that he had "no idea" why the dealership was closing. Christine Burd took over the business in late 2009 following the suicide of her husband, Richard Burd.
Sound equipment retailer plans expansion, 316 jobs
A Fort Wayne-based retailer of music and sound equipment said Friday that it plans an expansion that would roughly double the size of its headquarters campus and create more than 300 jobs by 2016.
U.S. retail chains spending billions in bet on growth
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.
MainSource Bank snags prime former Borders space
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.
Interchange project changes retail prospects on west side
Land at the Waterfront Office Park that sat vacant for decades is now ripe for retail development thanks to the reconfiguration of a west-side interstate interchange.
Developer ups retail ambitions for 86th-and-Keystone site
A Wisconsin developer has beefed up plans for the southwest corner of East 86th Street and Keystone Avenue across from The Fashion Mall at Keystone.
Ritter’s owners hope burgers will help fuel turnaround
Hoping to capitalize on the enduring appeal of Ritter’s Frozen Custard, the chain’s New York owners are launching another attempt to right-size the franchises with a new Indianapolis store, a revamped marketing plan, and burgers and fries.
INSIDE DISH: Smokers’ haven prepares for ban
Mass 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.
Developer Kite to remake key corner in Carmel
Kite Realty Group Trust is planning a Rivers Edge-like overhaul of two shopping centers it owns at 116th Street and Rangeline Road in Carmel. The Indianapolis-based real estate firm already has landed new tenants, including a natural and organic grocery store and a handful of restaurants.
Steak n Shake woos real estate pros
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.
HHGregg’s profit jumps on life-insurance payout
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.
Federal court to hear Steak n Shake franchisee appeal
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.
Biz boosters embrace One Click, but it’s no sure thing
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.