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.
Retail
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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.
Local developer plans $50M in projects for two former Drury-owned hotel sites
Indianapolis-based KennMar LLC acquired the former Caribbean Cove water resort property on the city’s north side and another Drury hotel site at Interstate 465 and West 71st Street.
Bargain outlet opening in former Keystone Marsh store
The new Ollie’s store will be the fast-growing Pennsylvania-based chain’s fourth Indianapolis-area location, taking the site of the first Indianapolis-area Marsh grocery store.
March retail sales, boosted by stimulus checks, soar 9.8%
Newly vaccinated and armed with $1,400 stimulus checks, Americans went on a spending spree last month, buying new clothes and going out to eat again.
Trailblazing Irvington restaurant closing after 18 years in business
The owners of The Legend Classic Irvington Cafe said “several different factors” are leading them to close the restaurant and retire, including repercussions from the COVID-19 pandemic.
Steak n Shake’s lenders say restaurant chain still owes millions
The Indianapolis-based company has declared itself debt-free, but the lenders say they’re owed more than $8.5 million.
Q&A with Cahmelan Porter of Cargo Streetwear Boutique: ‘We sell culture’
Cargo traditionally operates out of a shipping container that it is moving to Fountain Square, but for now, it’s in a pop-up shop in the former Pearings Cafe in downtown Indianapolis. IBJ talked with Porter—who owns the clothing brand Komäfi—about how business is going.
New taproom set to open in Fall Creek Place
The establishment, A Taproom, will feature a different out-of-town brewery each month, giving craft brew enthusiasts a way to sample new beers without leaving the city.
Target to spend $2 billion with Black-owned companies
The cheap-chic retailer will also add products from more than 500 Black-owned companies across its aisles and help Black vendors expand their sales in big-box retail.
Q&A: Marcus & Millichap CEO on 2021 property market
The work-from-home and online-shopping trends are expected to permanently reshape demand for office and retail space, says Hessam Nadji, CEO of the Calabasas, California-based commercial real estate financing and advisory company.
Pop-up vendors, in search of big March Madness sales, find modest crowds
Downtown crowds are thin this year amid a pandemic that’s putting a crimp in sales for pop-up businesses, which normally count on throngs of fans to attend games and stop in for souvenirs to or from the game.
IBJ Podcast: How Sun King came through the pandemic in better shape than it entered
When the pandemic hit one year ago, Sun King almost immediately lost some 40% of its business, the result of restaurants and bars that shuttered and stopped buying beer in kegs.
IBJ Podcast: City Market plots its comeback against headwinds
The pandemic has been tough on restaurants almost across the board. And so it’s no wonder that the Indianapolis City Market has lost a third of its vendors in the last year.
Q&A with Erynn Petruzzi, Something Splendid co-owner
Erynn and Elyse Petruzzi—whose father, Dean Petruzzi, started and sold several Indianapolis-based battery companies with his brothers in the late 1990s and early 2000s—started Something Splendid as a side hustle two years ago. Now it’s much more.
Marsh bankruptcy leaves creditors with losses of $340M
The trustee liquidating the grocery chain this month asked the court to close the case, saying he had wrapped up the process of selling off assets and turning proceeds over to creditors.
Indianapolis-based Bastian Solutions on 400-employee hiring spree
Bastian Solutions, which makes conveyor systems, robotics and other automated materials-handling items often used by the retail industry, has seen growth accelerate because of the pandemic.
Brawny gym for serious weightlifters planned for big retail site on south side
Founded by a local bodybuilder, American Muscle Factory is expected to open in August in a long-vacant, 23,000-square-foot retail space in the Greenwood Place shopping center.
Bed Bath & Beyond to go with something new to revive sales
The chain will begin selling eight new store brands this year. The new brands were announced Wednesday by CEO Mark Tritton, who was hired in late 2019 from Target, where he did much the same thing as chief merchandising officer.
Costco to raise starting hourly wage to $16, end hazard pay
The starting wage scale puts Costco above competitors, including Amazon, Target and Best Buy, which have $15 minimum wages.