Shareholder group calls for Vera Bradley to consider ‘strategic alternatives’
Fund 1 Investments LLC said Vera Bradley’s board should consider taking the handbag company private or a potential sale, among alternatives.
Retail
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Qdoba restaurant ends 25-year run near Monument Circle
The restaurant closure leaves no first-floor tenants in the historic King Cole building that has been announced as the future home of a hotel.
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Starbucks exits Broad Ripple after 25 years as Glendale shop prepares to open
Starbucks opened at the corner of Broad Ripple and Guilford avenues in 1999, taking over a spot once occupied by Abigail’s dress shop.
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Nicole-Taylor’s restaurant to rebrand as Corridor in 2025
Owners Erin Kem and Logan McMahan purchased Nicole-Taylor’s, 1134 E. 54th St., from founders Rosa Hanslits and Tony Hanslits in July 2023.
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New sports bar Tom’s Watch opens in downtown Indianapolis
Indianapolis is the 13th Tom’s Watch Bar location. The 10,000-square-foot restaurant features 135 screens as well as a full food and drink menu.
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Articles
Value-seekers drove 2024’s retail trends and dead ends
Shoppers and restaurant patrons in the U.S. were choosy about where and how to spend their money as they wrestled with high housing and food prices.
Scarlet Lane Brewing to close last remaining location
Scarlet Lane Brewing Co., which operated five area locations until just over a year ago, plans to shut down its flagship brewpub in McCordsville at the end of the year, marking an end to the 10-year-old business.
Holiday shoppers increased spending by 3.8% despite higher prices
This year, retailers were even more under the gun to get shoppers in to buy early and in bulk since there were five fewer days between Thanksgiving and Christmas.
The Container Store, buffeted by rough housing market and competition, seeks bankruptcy protection
The filing arrives two weeks after the trading of company shares was suspended by the New York Stock Exchange. Under Chapter 11 protection, The Container Store will continue to operate while it restructures.
Nordstrom to be acquired by Nordstrom family and Mexican retail group for $6.25B
Nordstrom’s board of directors unanimously approved the the proposed transaction, while top executives Erik and Pete Nordstrom—part of the Nordstrom family taking over the company—recused themselves from voting.
For the middle class, fewer gifts under the tree this year
The middle class is paring back on holiday gifts this year, reflecting a widening inflation-fueled spending gap between the country’s wealthiest and everyone else.
Party City is going out of business after a nearly 40-year run
Employees at three Party City stores told The Washington Post that they were notified the closures would occur by the end of February.
Big Lots conducts going-out-of-business sales after sale of company falls through
According to the company’s website, all stores are closing and discounts of up to 50% are being offered on the entire assortment goods.
Tinker Street owner to open new restaurant in historic Carmel home
In January, Tom Main will open Freeland’s at North End in a house built in 1845 that became known as “The Maples.”
Starbucks workers plan strikes that could spread to hundreds of US stores by Christmas Eve
Workers at Starbucks stores plan to go on a five-day strike starting Friday to protest lack of progress in contract negotiations with the company.
State sues six used car dealers, alleging deception
The lawsuits were filed against three Indianapolis dealers and one each in Greenfield, Peru and Greensburg.
U.S. accuses CVS of unlawfully filling opioid prescriptions
The complaint alleged that CVS pressured pharmacists to “fill prescriptions as quickly as possible, without assessing their legitimacy.”
Walmart’s 82% surge in stock price leaves competitors in dust
Analysts and investors are betting that further market-share gains and contributions from Walmart’s higher-margin ancillary businesses will extend the stock’s rally.
Retail sales rose last month in latest sign of U.S. economy’s health
Sales jumped 2.6% at auto dealers, driving most of the gain. Some of that demand likely reflected a need for new cars in parts of the southeast slammed by Hurricane Helene in October, as well as healthy incentives provided by car dealers.
Starbucks triples baristas’ paid parental leave to 18 weeks
But paid parental leave remains rare in the U.S., with only 40% of employers surveyed by the Society for Human Resource Management offering it this year.
Small businesses say cautious shoppers are seeking ‘cozy’ and ‘festive’ this holiday season
Overall, The National Retail Federation predicts retail sales in November and December will rise between 2.5% and 3.5% compared with same period a year ago.
Adrienes Flowers & Gifts owners brightened Noblesville
Moffett and Stephen Craig are retiring this month after 35 years of operating Adrienes in a 133-year-old house at 1249 Conner St. just east of the historic courthouse square.
Going, going, gone: Package store bidding dominates alcohol permit auction
Forty-two hopefuls turned out for the Indiana Alcohol and Tobacco Commission’s auction on Tuesday, outbidding one another in an attempt to secure one of dozens of alcoholic beverage permits.
Mass Ave restaurant Nine Irish Brothers closes
The Irish pub opened in 2014 as the third Nine Irish Brothers location. After a decade of serving shepherd’s pie and bangers and mash, the downtown restaurant is permanently closed.