Hudson’s Bay reportedly in early takeover talks with Macy’s
If a deal occurs, Hudson’s Bay might fold Macy’s assets, worth about $20 billion, into HBS Global Properties, its joint venture with Indianapolis-based Simon Property Group.
Retailers
Articles
Struggling HHGregg lays off 100 in bid to save $15M a year
In a statement, CEO Robert Riesbeck said: "While decisions like this are never easy, we are taking the necessary steps to preserve and grow our business during the continued challenging retail environment.”
Bill would slap tax on online retailers
Lawmakers are advancing a bill that would compel large, online retailers to collect and send sales taxes to the state—injecting Indiana into a national tussle over the issue.
State GOP leaders ready to make another run at Sunday sales
Grocery chains, convenience stores and pharmacies have pushed for years to have Indiana's eight decades-old ban lifted and be able to sell alcohol on Sundays, but a compromise has been elusive.
Recess closing with Neal Brown eatery set to take its place
Greg Hardesty will serve his last patrons Feb. 18 at the popular bistro south of Broad Ripple. He will turn it over to another high-profile local restaurateur, who will open a Japanese-inspired concept in the space.
HHGregg lives up to predictions with dismal quarter
The retailer took a whopping loss of $58.3 million in the quarter, more than double the loss of $26.9 million it took in the third quarter of the previous year.
Airport looks to add more local flavor to concessions
Indianapolis International Airport wants to bring in more local vendors as contracts with some current concessionaires expire, and add other features to better reflect the character of the city.
Marsh to close store near 53rd and Keystone
Marsh Supermarkets, which has been showing signs of struggle amid growing competition, plans to close the store Jan. 28. The location is where Marsh opened its first Indianapolis store, in 1957.
Wal-Mart planning to add about 10,000 retail jobs in U.S.
The world's biggest retailer said Tuesday that 59 new, expanded or relocated Walmart and Sam’s Clubs locations are in the works.
Marsh grocery chain owes more than $200,000 in unpaid bills
Contractors and at least one landlord say Marsh Supermarkets has fallen behind on rent and other bills—a development that suggests the locally based chain is facing heightened financial strain.
More pay, greater confidence lifts U.S. retail sales 0.6 percent
Americans stepped up their auto buying and online shopping in December, reflecting a boost in confidence after the election and an increase in pay.
Mass Ave Toys to help anchor evolving north-side retail center
The owners of 54th & Monon Shops, a three-building complex, are nearly finished converting the former industrial area into a retail hub.
HHGregg expecting major drop in sales in latest quarter
HHGregg released preliminary sales results for its latest quarter Monday after the market closed. Shares fell 24 percent in after-hours trading, to $1 each, after closing at $1.31.
Hustler Hollywood sues city over zoning roadblocks
Beverly Hills-based Hustler Hollywood says city officials are incorrectly classifying its planned Castleton store as an adult business, which is preventing it from opening its doors. It filed suit over the denial on Thursday.
Sears to sell famed Craftsman tool brand to Stanley Black & Decker
After controlling the Craftsman name for 90 years, troubled department store operator Sears said it will sell the famous tool brand.
Local Macy’s, Sears stores escape new round of closures
Macy’s on Wednesday announced plans to close 68 of its department stores and eliminate 10,000 jobs. Sears Holdings, meanwhile, is closing 108 Kmart stores and 42 Sears department stores.
Limited stores, including two in Indy, closing nationwide
The longtime clothing retailer shut the doors to its Circle Centre mall location Dec. 24, while the one at Castleton Square Mall is set to close Saturday.
HHGregg hires new chief merchandising officer
Aaron Trahan, 32, is the fifth person to hold this job since 2012 at the struggling Indianapolis-based retailer.
Sears Holdings lines up $200M in financing to stay afloat
The move signals that hedge fund manager Eddie Lampert remains committed to bankrolling Sears, even as the once-mighty department-store chain suffers from dwindling sales and billions in red ink.
High CFO turnover for retailers a sign of the times
The rapid turnover is a symptom of the quickly changing retail industry, as shifting consumer behavior demands new strategies from companies trying to keep up.