E-commerce giant Amazon plans to build a massive warehouse outside Cleveland on the site of a closed shopping center that was once owned by Indianapolis-based Simon Property Group. The former mall was once billed as the world’s largest.
A fresh round of sales declines at Macy’s Inc. and Kohl’s Corp., though less severe than Wall Street had feared, is renewing concerns that the department-store industry can’t pull out of a years-long slump.
Four of Teavana’s 379 locations—which will all shut down over the coming year—are in Indianapolis-area malls.
Some portfolio managers believe the market is painting the retail sector with too broad a brush. Yes, they say, many malls will go under, as will many retailers. But developers focusing on high-end properties—a description that fits both Simon and Kite—should fare just fine.
A store that specializes in denim, a new eatery and a souvenir shop have set their sights on the downtown shopping center.
Sales to liquidate inventory at the 18 stores that weren’t sold at auction to other grocers this week could last until early July, said a Marsh spokesman.
The additions to the food court will include a concept from Cafe Patachou founder Martha Hoover.
Additions such as Yard House, Nada and Punch Bowl Social have helped bolster Circle Centre's performance, even as a string of national apparel chains have shuttered their stores in the mall's interior corridors.
Retailers and shopping-center owners are gathering in Las Vegas this week prepared to send a message: The American mall is doing better than many people think.
The struggling supermarket chain warned the state Monday that that it is prepared to close the stores—including 11 in the Indianapolis area—within 60 days if it can't find buyer for the company.
David Simon told investors that the “returns will be there” if the company continues to invest in its properties.
The Shoppes at Whitestown would be located on 33 acres within the Anson development with room for about 20 retailers and seven outlots. It could open by fall 2018.
Simon Property Group CEO David Simon said he was pleased with first quarter results, considering the “current choppy retail environment.”
San Francisco-based retailer Gymboree Corp. operates more than a dozen stores in Indiana, including four at some of the Indianapolis-area's top shopping centers.
The struggling discount chain, which filed for Chapter 11 bankruptcy protection April 4, has released a list of nearly 400 Payless Shoe Source stores that it plans to close immediately nationwide.
David Contis, Simon Property Group’s president of mall operations, is resigning from the Indianapolis-based retail real estate giant to “spend more time with his family,” the firm said in an SEC filing.
Rue21 Inc., a teen clothing chain with 37 stores in Indiana, could file for bankruptcy this month, according to people familiar with the matter.
The number of “distressed” retailers—those with cash problems and poor credit profiles that are facing strong competition—is at the highest rate since 2009, says Moody’s Investor Service.
A Wall Street analyst said turnover among retailers actually creates opportunity for Simon Property Group—enabling it to replace underperforming department stores with an eclectic mix of restaurants, movie theaters and other entertainment venues that pay higher rent and boost customer traffic.
Despite a bumpy holiday season and other issues, the largest retail trade group says it's still optimistic that sales will grow this year.
