Holiday sales are projected to go up, but malls might not benefit
Upbeat holiday shopping forecasts are giving retailers reason to cheer despite nagging signs that consumers are spending less at malls and instead opting for online outlets.
Retail
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Here’s how Cubs championship hats get to stores so fast
Cubs fans had been waiting more than a century for this triumph, and the rush for celebratory merchandise is on. Zionsville-based Lids Sports Group is using extra workers to make sure key stores have caps available as soon as possible.
Finish Line seeking buyer for its JackRabbit stores, sources say
The specialty running-shoe division, which operates 70 stores under various names, could draw interest from private equity firms and other sporting-goods chains.
Founders of The Kitchen opening bistro on Mass Ave
The yet-to-be-named restaurant will occupy 5,500 square feet in Gershman Partners’ Marietta building under construction next to the Marott Center.
Buffalo Wild Wings-owned taco chain targets Indianapolis for expansion
Buffalo Wild Wings hopes to open 15 to 20 R Taco locations in the metropolitan area as soon as possible and is seeking franchisees with multi-restaurant experience to lead the growth.
HHGregg fires merchandising chief as revolving door continues
Keith Zimmerman had been with the struggling Indianapolis-based chain since December 2014. A senior executive said HHGregg has begun the search for a new chief merchandising officer who will "move a little faster" and bring greater creativity to the job.
Fishers won’t let Ikea fuel retail blitz
Local officials are taking steps to preserve the vacant land surrounding the 35-acre Ikea site near Interstate 69 and 116th Street for office development.
Hofmeister retail property headed for foreclosure sale
The sale is intended to resolve a lawsuit filed by Wells Fargo Bank that accused Hofmeister of defaulting on a $2.3 million mortgage on the building.
Simon Property raises annual outlook after strong quarter
The Indianapolis-based real estate company reported higher occupancy and rental rates at its shopping malls in the third quarter.
Jared Fogle’s ex-wife claims Subway covered up complaints
The ex-wife of former Subway pitchman Jared Fogle has filed suit against the fast-food sandwich chain, alleging executives knew about Fogle’s sexual attraction to young children as early as 2004 and stayed quiet about his pedophile predilections to preserve his role as a “cash cow” for the company.
Activist asks Simon Property competitor to consider sale
Shares in Taubman Centers Inc. surged Wednesday, one day after Jonathan Litt, an activist investor known for targeting real estate companies, pushed for the mall owner to cut costs or consider a sale of the company.
Rocket 88 closes doughnut shops in Fountain Square, SoBro
In a Facebook post, the owner said he will now be focusing on a new business, Square Cat Vinyl, where “we won’t be serving doughnuts, but we will be serving vinyl records, coffee, and beer.”
O’Malia’s store on south side closing in November
After the store on South Meridian Street shuts its doors next month, just one O’Malia’s grocery will remain.
Indiana Landmarks mounts campaign to restore historic clock
Historic preservation not-for-profit Indiana Landmarks is leading a fundraising campaign to restore the 80-year-old “Ayres clock” mounted on the corner of Circle Centre mall at Washington and Meridian streets.
HHGregg to close for Thanksgiving
"It's time to stop the madness," said CEO Robert Riesbeck, who noted that the appliance chain wasn't seeing a huge spike in business on the holiday anyway.
Scotty’s Brewhouse founder negotiating to sell stake in chain
The deal with an Arizona-based private-equity firm could take the small Indianapolis-based chain to 200 restaurants within the next four years, including locations in Japan.
Wal-Mart plans to slow new store openings, invest in online
Wal-Mart closed on its more than $3 billion buyout of the online retailer Jet.com last month, showing how heavily it’s willing to invest as it tries to boost online sales that totaled $13.7 billion last year.
Tex-Mex chain Don Pablo’s files bankruptcy, closes 4 area locations
The 31-year-old national chain, which began opening locations in the Indianapolis area in the early 1990s, filed for Chapter 11 protection on Tuesday and has closed all of its area restaurants.
Paradise Bakery closing last Indianapolis-area location
Paradise Bakery & Cafe, which once operated a half-dozen restaurants in the Indianapolis area, will quit selling cookies in Indiana on Tuesday.
Retailer Cabela’s agrees to $5.5 billion buyout by Bass Pro
The offer of $65.50 a share in cash represents a 19 percent premium to Cabela’s most recent closing price, the companies said Monday in a written statement.