A 33-year-old Simon becomes force inside family company
Eli Simon, whose grandfather and great-uncles founded Simon Property Group more than a half-century ago, is quietly emerging as a key executive in the retail real estate empire.
Retail
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Retail sales were flat in April as stimulus spending waned
The report on Friday suggests Americans were heading out last month to eat instead of shop.
COVID-19 pet boom has veterinarians backlogged, burned out
To meet the demand from the pet boom, vets have extended hours, hired additional staff and refused to take new patients. And they still can’t keep up.
Historic downtown building with steakhouse space, luxury condo on market for $4.95M
Eddie Merlot’s, an upscale steakhouse chain based in Fort Wayne, had signed a lease to move into the restaurant space in 2019, but those plans were ultimately derailed by the pandemic.
Victoria’s Secret to be spun off a year after sale collapsed
Victoria’s Secret was to be sold to Sycamore Partners last year but the private equity firm sued to get out of the deal citing the coronavirus pandemic.
Simon joint venture to buy 300-store Eddie Bauer
The outdoor gear and apparel retailer is slated to join a growing stable of high-profile retail brands owned by Indianapolis-based Simon Property Group and its partner.
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.
Steak n Shake preps for self-service transformation
The Indianapolis-based chain, which previously announced plans to convert from table service service, now says it will cut costs further through “advanced self-service”
IBJ Podcast: Restaurants are getting busy again—but don’t have the staff to keep up
Host Mason King talks with two restauranteurs—Loughmiller’s Pub & Eatery co-owner Danny Scotten and Upland Brewing Co. President David Bower—about how the labor crunch is affecting their eateries and what they’re doing to try to find workers.
Cento Shoes’ co-owner dies at 50
Downtown Indy Inc. has launched a GoFundMe page to raise money to help the Cento family pay for a funeral “and other expenses to help sustain the Cento family business—a beloved and longtime staple of downtown Indianapolis.”
Labor-starved restaurants, bars add bonuses, increased wages to the menu
Local restaurant owners battling a nationwide labor shortage are using alternative recruiting techniques and financial incentives to try to staff a returning dinner rush.
Cook Medical, not-for-profits to build full-service grocery near 38th and Sheridan
The 14,000-square-foot store—Indy Fresh Market—will be run by two neighborhood entrepreneurs and located in an area that is designated a food desert.
Pie Kitchen to enter Indy market with new concept in multiple locations
A Louisville, Kentucky-based restaurant chain known for its house-made desserts is entering the Indianapolis market, with Homemade Ice Cream & Bakery Cafe locations set to open within months in both Zionsville and Noblesville.
IBJ Podcast: Patio and yard goods are still hot—and some are in short supply
Host Mason King talks with two retailers—Scott Horvath, owner of O’Malia’s Living, and Pat Sullivan, who owns owner of three Sullivan’s Hardware & Garden stores plus Allisonville Home & Garden by Sullivan—about what customers want and why the supply chain is struggling to keep up.
With pups and personal service, Trust Hardware invests in brick and mortar
The company’s three stores are open 24/7. Each has a resident dog. You can also pick up everything from power tools to local honey to live bait. What you can’t do, at least for now, is order online.
Clamor for gardens escalates even as pandemic restrictions ease
Local home and garden stores are continuing to struggle to meet the pandemic-fueled demand that began last spring.
Simon no longer managing day-to-day operations at downtown’s Circle Centre mall
Property management firm JLL sent a letter, dated April 21, to tenants to inform them that it had taken over mall management and said it is in the process of hiring a general manager for the property.
Shops at Perry Crossing back under control of previous owner
Poag Shopping Centers earlier this month squared away its financial dispute over The Shops at Perry Crossing, allowing the firm to take back the keys to the property.
Americans update their closets as they emerge from pandemic
More than half of U.S. consumers plan to buy clothing in the coming months, catapulting it back to the top category of anticipated spending, followed by footwear and beauty products.
Mass Ave on the road back with Bottleworks as anchor
There are about 115 retailers and restaurants along the street, plus dozens of service-oriented businesses and office users.