HHGregg posts steep quarterly loss on falling sales
The Indianapolis-based appliance and electronics retailer suffered another money-losing quarter, though its strategy to focus more on appliances is making headway.
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Steak n Shake rebounds to post small same-store sales increase
Sales at established Steak n Shake restaurants rose slightly in the latest quarter following disappointing results last period that snapped a streak of 29 consecutive quarterly increases dating to 2009.
Holiday sales are projected to go up, but malls might not benefit
Upbeat holiday shopping forecasts are giving retailers reason to cheer despite nagging signs that consumers are spending less at malls and instead opting for online outlets.
Finish Line seeking buyer for its JackRabbit stores, sources say
The specialty running-shoe division, which operates 70 stores under various names, could draw interest from private equity firms and other sporting-goods chains.
New restaurant planned for Circle City Industrial Complex
The Convivial Community Bar—slated to open in spring 2017—will be on the south end of the complex with a patio along East 10th Street, just off the Pogue’s Run Trail.
HHGregg to close for Thanksgiving
"It's time to stop the madness," said CEO Robert Riesbeck, who noted that the appliance chain wasn't seeing a huge spike in business on the holiday anyway.
Scotty’s Brewhouse founder negotiating to sell stake in chain
The deal with an Arizona-based private-equity firm could take the small Indianapolis-based chain to 200 restaurants within the next four years, including locations in Japan.
Wal-Mart plans to slow new store openings, invest in online
Wal-Mart closed on its more than $3 billion buyout of the online retailer Jet.com last month, showing how heavily it’s willing to invest as it tries to boost online sales that totaled $13.7 billion last year.
Paradise Bakery closing last Indianapolis-area location
Paradise Bakery & Cafe, which once operated a half-dozen restaurants in the Indianapolis area, will quit selling cookies in Indiana on Tuesday.
Retailer Cabela’s agrees to $5.5 billion buyout by Bass Pro
The offer of $65.50 a share in cash represents a 19 percent premium to Cabela’s most recent closing price, the companies said Monday in a written statement.
Downtown breakfast-and-lunch spot City Cafe closes
City Cafe, which began operating on North Pennsylvania Street about 15 years ago, has closed due to an owner’s ongoing health problem.
Sears, Claire’s at high risk of retail failures, Fitch says
Sears Holdings Corp. and Claire’s Stores Inc. are among seven chains at high risk of defaulting within a year as shoppers shift to online merchants and spend more on experiences, according to a Fitch Ratings study.
Finish Line realizing benefits of closing stores
Finish Line's experience highlights the important, but difficult, path forward for retail chains that had become addicted to new stores as the only way to fuel sales.
Chuck Taylor sequel flops, dealing blow to Nike’s Converse brand
With a lot of fanfare last July, Converse released a more expensive version of the classic Chuck Taylor, the iconic brand designed by the former basketball player and salesman from Indiana. But fans still prefer the older model.
Finish Line’s supply chain woes under control, CEO says
Sales and profit for the apparel seller’s most recent quarter either met or exceeding Wall Street’s expectations. It’s now embarking on a plan for responding to clothing trends more quickly.
The Interview Issue: Robert Riesbeck
Just two months into the job, HHGregg CEO Robert Riesbeck believes the struggling retailer “still has long-term viability.” He aims to boost results in part by doubling-down on appliances—a strategy that includes opening more locations of the super-premium Fine Lines chain.
The Interview Issue: Bruce Pallman
Roberts Camera moved in 2014 from its longtime downtown location on South Meridian Street, which owner Bruce Pallman said has benefited the company amid fickle times in the camera business.
City councilors seek restrictions on booze-cruising pedal pubs
Under rules to be proposed next week, operators of foot-powered trolleys on Indianapolis streets would need to be licensed and insured. City councilors also hope to address noise complaints.
Holiday sales predicted to grow, but big chains to get smaller piece
Consumers are expected to buy more Christmas and other holiday gifts from niche retailers this year, pulling spending away from big store operators.
HHGregg adds IndyCar team owner to board
Michael Andretti, owner of Andretti Autosport, has become a director following a sponsorship deal between the struggling retailer and the racing team.