Kmart’s announcement that it will close its store in Connersville in May will put 59 employees out of work. Fayette County,
where the city is located, already is strapped by steep job losses.
Pharmacy giant CVS will pay $1.95 million and verify that all of its pharmacists are licensed in Indiana to settle a state
complaint that pharmacists with expired licenses dispensed prescriptions for several years at two of its drugstores.
The Steak n Shake Co. updated its Web site this week to reflect a new corporate headquarters address in San Antonio, confirming
a story in IBJ‘s Feb. 8 print edition.
The company raised its average rent per square foot at both regional malls and outlet centers even as U.S. consumer spending
flagged.
Quarterly revenue remained flat at about $1 billion, but profit fell 41 percent, from $196.4 million to $115.9 million.
Unibail-Rodamco SE, Europe’s biggest shopping-center owner, has agreed to pay Simon Property Group and Ivanhoe Cambridge Inc.
$981 million for stakes in seven malls in France and Poland.
Indianapolis is on the verge of losing one of its most prominent public companies. The Steak n Shake Co. is planning to
change its name to Biglari Holdings Inc. and move its headquarters to San Antonio. The Steak n Shake restaurant chain would retain a presence in Indianapolis.
The second-largest company in the movie-rental business behind Blockbuster Inc. is immediately closing 760 locations. The
chain operates 14 stores in central Indiana,
according to its Web site.
HHGregg’s profit and revenue both increased in its fiscal third quarter, despite a slight dip in same-store
sales. The opening of 19 stores helped offset the decrease.
Steak n Shake Co. said Friday it posted a fourth-quarter profit, and said it is planning to change its corporate name to Biglari
Holdings Inc.
The Mystery Co. in the Arts & Design District plans to host a farewell party Jan. 30, and close for good a few
days later.
The bill would require pet stores to put information about the dog or cat on its cage in the store, including the animal’s
medical history, the name of the breeder and any congenital disorders.
Businesses say the money they must pay to provide customers the convenience to use plastic adds up. For example, Ricker Oil
Co. paid a whopping $3.9 million in 2009, according President Jay Ricker.
Mall retailer The Finish Line Inc. has agreed to forfeit a potentially lucrative tax-abatement deal because it won’t be able
to meet a 2008 promise to create almost 200 jobs and invest $24 million at its Indianapolis headquarters.
Six groups are vying to lead a redevelopment effort for the struggling Indianapolis City Market. Check out summaries of each
of the proposals.
An Indiana liquor store trade group wants a court to freeze state alcohol permits until a judge can clarify quota laws on
the number of permits allowed.
The New York-based department store has one other location in Indianapolis, in Lafayette Square Mall. That store opened in
2008.
The Humane Society of the United States bought $2,000 worth of Steak n Shake stock this week in hopes of getting the company
to work with food producers that use humane farming methods.
For the year, retail sales fell 6.2 percent, the biggest decline on government records that go back to 1992.
Customers are buying fewer high-priced big-screen TVs from electronics chain HHGregg Inc., an analyst said Tuesday as he lowered
his investment rating on the company’s stock.
