HHGregg shares plummet on warning of weak sales quarter
The Indianapolis-based retailer announced disappointing preliminary sales figures on Tuesday morning for its fiscal fourth quarter, which it blamed on horrendous weather in major markets.
Retail
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Monthly retail sales jump by the most in 18 months
Sales of autos climbed 3.1 percent while sales at general merchandise stores, a category that covers retailers such as Wal-Mart and Target and department stores, increased 1.9 percent.
Steak n Shake sees appetite for organic
The Indianapolis-based burger chain won approval in late March from the U.S. Patent and Trademark Office to trademark the “organic signature steakburger.
Retailer Coldwater Creek going out of business
Coldwater Creek Inc., a 362-store women’s clothing chain that has four stores in Indianapolis-area malls, filed a Chapter 11 petition Friday to liquidate inventory in going-out-business sales to begin in time for Mother’s Day.
Family Dollar to close about 370 stores, cut jobs
The discount retailer, which operates nearly 50 stores in Indianapolis, said it will shut down underperforming stores as it tries to reverse sagging sales and earnings.
Kite sells three retail properties for $35.2 million
Indianapolis-based Kite Realty Group Trust, which is in the midst of a major merger, had decided that the three properties scattered across the country were “non-core assets.”
Study: Downtown Zionsville needs more restaurants
Downtown Zionsville merchants produce an estimated $21.9 million in annual sales, or about 9 percent of the town’s total spending power, according to a market-share analysis. The suggested goal: 13 percent.
Former HHGregg COO hired to lead bicycle retailer
BikeStreet announced Monday that it has hired Gregg W. Throgmartin as its CEO, the same day as his departure from HHGregg became official.
Shadeland Station shopping center bought for $9.5M
New York-based Time Equities Inc. acquired the northeast-side property that is anchored by a Marsh supermarket and 85-percent occupied.
CEO of Simon spinoff to run company from D.C. perch
Simon Property’s decision to name the new business Washington Prime had fueled speculation the company would end up based in the D.C. area. However, that apparently is not the case.
Noble Roman’s awarded $1.5M in battle with franchisees
The Indianapolis-based pizza chain is still waiting to collect after being locked in a years-long legal dispute over franchise agreements and royalties.
Simon plucks in-house execs for spinoff firm
Simon Property Group Inc. is reaching into its own stable of executives to stock the C-suite of its publicly traded spinoff for retail strip centers and smaller enclosed malls.
Fresh idea: Specialty grocers finally eyeing south side
The south side is beginning to receive at least some attention from grocery players, including specialty ones that are much more prevalent to the north.
Cabela’s chooses Noblesville for first central Indiana store
The announcement from the Nebraska-based outdoor retailer comes five years after it abandoned plans to build a store near Interstate 65 and County Line Road in Greenwood.
Toyota dealers trying to stop Ed Martin’s relocation
Butler Auto Group has been selling Toyotas in Indianapolis since 1966. Ed Martin Auto Group has been selling Toyotas in Anderson since the 1980s. So when Toyota Motor Sales USA recently allowed Martin to move its dealership 20 miles west, to Noblesville, Rob Butler started seeing red.
Washington Square’s woes leave it at bottom of heap
The east-side mall's occupancy has fallen to 43.8 percent, down from was 86.6 percent in 2011 and 77.2 percent in 2012.
U.S. retail sales rebound after two slow months
Retail sales bounced back in February after suffering a steep decline during a bitterly cold January. Shoppers spent more on autos, clothing and furniture, the Commerce Department said.
Developer to break ground on Fort Ben project
The 36,000-square-foot building will house 27,000 square feet of office suites. The remainder will be retail, with the local Jockamo's Pizza chain slated to open a restaurant in the largest space.
New grocery chain plans three local stores
Fresh Thyme Farmers Market, a Phoenix-based specialty grocery startup that plans to open its first eight stores this year, has decided on three locations in Indianapolis.
Office retailer Staples plans to shut down 225 stores
Staples Inc., the largest U.S. office-supplies retail chain, will close as many as 12 percent of its North American stores and cut as much as $500 million in costs as online competition continues to hurt sales.