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.
Retailers
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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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Rene’s Bakery bounces back in Broad Ripple
Although Rene’s closed this summer because of the founder’s health challenges, the Broad Ripple pastry shop will relaunch in December under new ownership.
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Regal UA Circle Centre movie theater closes after 29 years
The nine-screen complex on the fourth floor of Circle Centre Mall served as one of the shopping center’s original attractions.
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A tale of two stores
Nearly a year after opening, though, Indy Fresh Market isn’t profitable; instead it is being propped up by corporate partners Goodwill of Central & Southern Indiana and Cook Medical.
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Articles
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.
Albertsons gives up on Kroger merger, sues grocery chain for failing to secure deal
Albertsons is accusing Kroger of not doing enough to secure regulatory approval for the $24.6 billion agreement, which would have been the largest grocery store merger in U.S. history.
UPDATE: Federal judge halts proposed supermarket merger between Kroger, Albertsons
Kroger and Albertsons in 2022 proposed what would be the largest grocery store merger in U.S. history. But the Federal Trade Commission sued earlier this year, seeking to block the $24.6 billion deal.
Bars, restaurants assessing impact of new ‘happy hour’ law
“Happy hour” made its return to Indiana in July, with the state’s restaurants and bars able to market drink specials during specific times of the day to their customers.
Q&A with Heather Givans: Crimson Tate owner builds following by designing fabric, quilts
Givans’ signature fabric designs, inspired by topics such as books and hiking, have been distributed worldwide by New Jersey-based Windham Fabrics since 2015. Meanwhile, her 19 quilting and craft patterns are sold under the Crimson Tate brand.
Kroger trims outlook for profit, sales amid uncertain economy
Kroger is waiting for a federal judge to rule on its proposed acquisition of Albertsons for about $24.6 billion, a deal it announced more than two years ago.
Cyber Monday shoppers expected to set record
Cyber Monday has become the biggest online shopping day of the year, thanks to the deals and the hype the industry has created to fuel it.
Target struggles in third quarter despite price cuts, offers tempered holiday outlook
Target’s stock plummeted 21% in morning trading Wednesday after the retailer fell short of Wall Street expectations for the quarter.
October’s retail sales report shows solid growth
One cautionary note is that grocery-store sales barely rose last month, a sign that many Americans might still be struggling to adapt to food prices that are still much higher than they were three years ago.
American Freight Appliances and Furniture closing all stores in Indianapolis
The owner of the retail chain, which operates stores throughout Indianapolis and Indiana, has agreed to close all stores nationwide as part of a Chapter 11 bankruptcy agreement.
As holidays approach, stores banking on more sales of supersize TVs
Shipments of 98-inch TVs to the U.S. are picking up pace this year, and models as huge as 110-115 inches are on the market.
Many retailers offer ‘returnless refunds,’ but they don’t talk much about it
Returnless refunds are a tool that more retailers are using to keep online shoppers happy and to reduce shipping fees, processing time and other ballooning costs from returned products.
David Yurman, Marc Jacobs stores to open at Fashion Mall
Over the next month, the Fashion Mall at Keystone will welcome three stores that are new to Indiana.
Retail trade group expects to see slower rise in holiday sales
The National Retail Federation said its 2024 forecast indicates that shoppers will make $979.5 billion to $989 billion worth of purchases in November and December.
Walgreens to close 1,200 stores as chain attempts to steady operations
Walgreens said Tuesday that its net loss swelled to more than $3 billion in the final quarter of the year, dragged down by U.S. retail and pharmacy sales.
Indiana-based Do It Best inks agreement to acquire True Value assets
Chicago-based True Value, which has hardware stores throughout Indiana, on Monday began voluntary Chapter 11 bankruptcy proceedings, with the goal of selling its business operations to Do It Best Corp.
Retailers, shoppers embracing earlier starts for holiday shopping
In response to growing customer demand, stores of all stripes have thrown the official retail calendar out the window. pushing Halloween costumes in July and rolling out Christmas merchandise in September.
Fishers-based Vibenomics branching out in pursuit of customers outside U.S.
The marketing tech firm, which counts some of America’s largest retailers as customers, is now working to replicate that success overseas.