UPDATE: Pier 1 files for bankruptcy protection, to close 7 Indiana stores
The retailer, led by the former CEO of HHGregg, has been struggling with increased competition. It plans to close seven stores in Indiana.
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IBJ Podcast: Here’s why a mega liquor store is trying to move to Indiana
IBJ reporter John Russell explains a U.S. Supreme Court ruling that could open the door to out-of-state liquor stores moving into Indiana—including Total Wine & More, a Maryland-based chain that has applied for a permit to open in a former Marsh store.
Indiana House backs tougher rules for tobacco retailers
Stores across Indiana would face tougher penalties for selling tobacco products to anyone younger than 21 under a bill endorsed Tuesday by the Indiana House.
Holiday sales rose 4.1%, nation’s largest retail trade group says
The positive December figures were partially offset by downward revisions to October and November sales. That suggests consumer spending likely grew more slowly in the final three months of last year than previously expected.
Pier 1 Imports to close half its stores as sales falter
Pier 1 Imports, which is led by the former CEO of defunct retailer HHGregg, plans to shut down hundreds of stores as it struggles to draw consumers and compete online.
Some Indiana retailers say they’re unaware of tobacco age change
It is now illegal for a retailer to sell any tobacco product—including cigarettes, cigars and e-cigarettes—to anyone under 21, according to federal law.
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.
Sears limps into holiday shopping season that could be its last
Many of the stores that remain in the ever-shrinking Sears chain have the same old problems. They’re grungy and understaffed, poorly stocked and losing vendors.
Merry Clickmas: Black Friday online sales hit record $7.4B
In-store sales slipped, but sales by people who bought things online and then headed to the store to pick them up surged 43.2% on Black Friday, according to Adobe Analytics.
Louis Vuitton maker to buy Tiffany & Co. for $16.2 billion
The offer comes as luxury goods companies have been wrestling with changing habits of shoppers who are increasingly buying online.
Target jumps into holiday season with third-quarter earnings bang
Third quarter online sales rose 31% for Target in the third quarter. And customer traffic to its stores and website rose 3.1%.
Robust holiday shopping season expected, with some retailers facing challenges
With two weeks until the official start of the holiday shopping season, the nation’s retailers are gearing up for what should be another brutally competitive shopping period.
Retailers seek to stretch shortened holiday shopping season
Faced with the shortest holiday shopping season since 2013, retailers are trying to figure out ways to get into the minds of shoppers sooner.
Gerald Paul, co-founder of Paul Harris Stores, dies at 95
In addition to co-founding and leading national women’s clothing retailer Paul Harris Stores, Gerald Paul was an active philanthropist in local arts, education and Jewish causes.
Walgreens to close in-store clinics, add Jenny Craig sites
The company said Monday that it will close 150 Walgreens-run clinics by the end of the year, but it will keep open more than 200 that are run in partnership with health care providers.
CountryMark CEO Smith retiring after 17 years at helm
CountryMark ranked as the state’s ninth largest company in 2018, with $1.2 billion in revenue. The firm has more than 500 employees, including about 420 in Indiana.
Louis Vuitton maker looks to buy U.S. jeweler Tiffany for $14.5B
Tiffany & Co., which has one store in Indianapolis, owns luxury labels ranging from Givenchy haute couture to Sephora cosmetics stores, Hublot watches, Bulgari jewelry and Dom Perignon Champagne.
Startup sees big potential in Amazon-like site for orthodontists
Indianapolis orthodontist Jeff Biggs has been putting smiles on people’s faces for two decades. Now he’s hoping to put smiles on the faces of orthodontists themselves with a new one-stop online marketplace to launch early next month.
Minnesota-based tool retailer set to enter Indianapolis market
Northern Tool + Equipment, a growing tool and equipment retailer with more than 100 stores in 21 states, is entering Indiana with two Indianapolis stores that are set to open Oct. 31.
Dick’s Sporting Goods CEO says new gun policies cost company quarter-billion dollars
Even while the National Rifle Association, Republican lawmakers and critical customers have blasted CEO Ed Stack, he said the company’s entire firearms category is under “strategic review.”