J.C. Penney sells Simon Property stake for $248M
J.C. Penney Co. said Monday that it is selling the bulk of its interest in mall developer Simon Property Group Inc. for $248 million as it focuses on its core business.
Retailers
Articles
Lids division renews contract with IUPUI
Under the five-year deal, Nike will maintain its status as the official outfitter of all student athletes on the 16 varsity sports teams at IUPU. The initial deal was signed in October 2009. Terms of the current agreement were not disclosed.
HHGregg setbacks reflect deeper woes, some fear
Retailer’s operating income is the same as five years ago, even though it has triple the number of stores.
U.S. retail sales sink for third straight month
Retail sales fell 0.5 percent in June from May, the Commerce Department said Monday. Consumers spent less on autos, furniture, appliances, on building and garden supplies, and at department stores.
HHGregg shares plummet on new earnings forecast
HHGregg Inc. shares plunged Wednesday after the Indianapolis-based appliance and electronics retailer said it expects to report a wider first-quarter loss because of weak sales in its video business. It also cut its full-year outlook.
Marsh closing three grocery stores in central Indiana
Marsh Supermarkets Inc. confirmed Tuesday afternoon that it is closing stores in Greenwood, Anderson and Martinsville. Many employees will get a severance package or an option to transfer to another location.
Hofmeister files bankruptcy reorganization plan
Hofmeister Personal Jewelers Inc. plans to pay off its creditors over seven years as part of the well-known Indianapolis retailer’s bankruptcy restructuring.
National retailers report tepid sales for June
Shoppers, worried about jobs and the overall economy, pulled back on spending in June, resulting in disappointing sales for many retailers.
J.C. Penney closing distribution center, laying off 230
The distribution center, which opened in 2002 near the Indianapolis International Airport, will close by the end of September, company officials said.
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.
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.
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.
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.
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.
Business Furniture expands into Ohio with acquisition
Indianapolis-based Business Furniture LLC, the city's largest office furniture dealer, has expanded into Ohio by acquiring Everybody’s Workplace Solutions Inc. in Dayton.