Vera Bradley to sell Pura Vida business as part of ‘strategic evolution’
Vera Bradley, which had already acquired a 75% ownership stake in the California-based jewelry brand in 2019, acquired the remaining 25% interest in 2023.
Retail
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Hendricks fine-tuning plans for $300M first phase of Circle Centre revamp
The developer behind the planned overhaul of Circle Centre Mall could start construction work on the $600 million project by the end of this year.
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Gray Brothers plans to close Mooresville cafeteria, sell building for $10M
Third-generation owner Jason Gray told IBJ plans for after the sale—including when and where the beloved restaurant will reopen—are still in the works.
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Simon reports eight-year high in shopping mall occupancy rates
Indianapolis-based Simon Property Group Inc., the largest owner of malls in the United States, said it signed a record number of leases in 2024.
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IBJ Podcast: A preschool, a church, a pickleball palace—tracking the transformations of Indy’s vacant Marsh stores
Longtime Indianapolis retail real estate broker Bill French and podcast host Mason King share detailed records on how many former Marsh spaces have been recast, revamped or replaced.
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Articles
Indoor golf venues take off with serious, casual players
An increasing number of indoor golf clubs in the metropolitan area provide food, drinks and golf simulators that allow users to play full rounds or just take some hacks on dozens of golf courses from around the world.
Major retailers temper expectations for 2025
A pullback by American shoppers has led to more caution from national retailers about their sales potential in 2025.
Devington Plaza’s proposed developer withdraws plans, but still interested in site
The developer behind plans to overhaul the 36-acre Devington Plaza shopping center on the east side of Indianapolis is going back to the drawing board.
Kroger Chairman and CEO resigns following investigation into personal conduct
Rodney McMullen, 64, began his career with Kroger in 1978 as a part-time stock clerk and bagger. He was named Kroger’s CEO in 2014 and became the company’s chairman the following year.
Economic blackout: Will 24-hour boycott have an impact?
A grassroots organization is encouraging U.S. residents not to spend any money Friday as an act of “economic resistance.” The activist movement also plans to promote weeklong consumer boycotts of companies including Walmart and Amazon.
Joann plans to close all stores, cease business operations
Monday’s announcement comes less than two weeks after the retailer announced it would close more than two-thirds of its stores, including two in the Indianapolis area.
Walmart rolled through 2024, but uncertainty about consumers and tariffs seep into year ahead
The financial outlook from nation’s largest retailer, which has thrived amid stubborn inflation, delivered a jolt across the retail sector.
Pete the Planner: Why do high egg prices leave consumers feeling so steamed?
It’s about the bigger question: Are we actually seeing progress, or are we in a new normal?
Nap or Nothing streetwear shop moves from Mass Ave to Fountain Square
The Nap or Nothing brand associated with T-shirts, hoodies and sweatpants was founded a decade ago by Indianapolis hip-hop artist Maxie.
New rule aims to help consumers cancel subscriptions, memberships
The click-to-cancel rule went into effect Jan. 14, although sellers have until May 14 to comply.
Big Lots puts more store leases up for sale
Bankrupt discount retailer Big Lots has added more than 200 stores to a nationwide list of locations that are likely to close, including a pair of stores in Indianapolis.
UPDATE: Crafts and fabric retailer Joann closing 533 stores nationwide
The retailer’s closure list includes 20 stores in Indiana, including a pair of local stores.
Westfield City Council approves Grand Universe development plan
Plans call for the proposed $1.2 billion development east of Grand Park Sports Campus to include a full-dome planetarium, hotel, retail, offices and multifamily housing.
Indy-area brunch spots face cost decisions as egg prices rise
In the nationwide run-up of egg prices—due largely to an outbreak of highly pathogenic avian influenza, or bird flu—one group of businesses is hit particularly hard: brunch restaurants.
Developer planning more restaurants near Fishers Event Center
Construction on the $30 million, two-building project in Fishers District is expected to begin this summer.
UPDATE: Target planning second store in Fishers
Fishers Mayor Scott Fadness announced the news Wednesday during his annual State of the City address.
Store closings may accelerate as retailers face problems far beyond tariffs
Brick-and-mortar retail had a tough year last year, and it’s only going to get harder in 2025, experts say.
Simon purchases Italian outlet malls from Gucci’s parent company
Indianapolis-based Simon is the new owner of two Italian luxury outlet malls where the roster of shops includes Armani, Balenciaga, Gucci and Versace.
Developer considering apartments at Irvington Plaza, but community leaders want ‘clarity’ on plans
California-based Tallen Capital Partners LLC, which has the property in the 6200 block of East Washington Street under contract for an undisclosed price, hopes to rezone nearly 7 acres for mixed-use development.