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.
Retailers
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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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Hair care, streetwear stores the latest additions to St’Artup 317’s roster
St’Artup 317 is a short-term showcase for businesses on the path to becoming long-term tenants elsewhere in the city.
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Articles
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.
Retailers expect to hire slightly fewer employees for the holiday shopping season
Overall, U.S. retailers are expected to add 520,000 jobs in the final quarter of this year, representing the second-lowest total since 2009.
Big Lots files for bankruptcy protection, plans to sell assets to Nexus Capital
Big Lots said it does plan to close some stores, but didn’t specify how many or what locations would be affected. At the end of 2023, Big Lots operated nearly 1,400 stores in 48 states.
Bankrupt LL Flooring finds buyer, plans to keep 200-plus stores open
The flooring retailer formerly known as Lumber Liquidators signed an agreement with private equity firm F9 Investments and now plans to keep some of its stores open instead of completely ending operations.
Retailer formerly known as Lumber Liquidators closing all stores
LL Flooring is “winding down operations” after declaring bankruptcy and plans to close all stores, including three stores in central Indiana.
Retailer Burlington set to open this week in downtown Indianapolis
The 23,000-square-foot store will take over space in the lower level of Claypool Court previously occupied by the Rhythm! Discovery Center.
Boar’s Head plant linked to deadly outbreak broke food safety rules dozens of times, records show
The plant has been linked to the deaths of at least nine people and hospitalizations of about 50 others in 18 states, including Indiana.
North of 96th roundup: Racer’s HQ, pickleball club, eateries among openings
A racer’s headquarters that will eventually house a steakhouse and coffee shop is one of several north-side businesses that have opened or are planning to open soon. The list also includes several restaurants, a hardware store and a Nordstrom Rack.
Lowe’s changes some DEI policies in wake of high court decision
The home improvement chain joined the ranks of several other companies that have altered their programs after the U.S. Supreme Court outlawed affirmative action in college admissions.
Tale of two retailers: Target reverses sales slump while Macy’s reports another quarterly decline
Consumers are still spending, but they’re being selective about where they make purchases when the costs of housing, food and other essentials remain inflated.