Welcome to The Closing Bell. This is your last stop for biz scoops and big news before the weekend — a roundup of stories that can’t wait till Monday.
Newly renovated Tim Tam Tavern reopens in Schnitzelburg/Audubon, serves Danny Mac’s Pizza
Regulars of the Schnitzelburg/Audubon neighborhood bar Tim Tam Tavern have waited more than a year for their favorite watering hole to reopen under new management, and now, they’ll be rewarded with pizza.
Tim Tam, named for the 1958 Kentucky Derby winner, reopened quietly on Thursday, April 26, with a completely new look including renovated bathrooms, new flooring, an expansive side deck and a kitchen that serves bar staples like burgers, fried pickles and cheese curds, plus pizza from Danny Mac’s Pizza.
Dan McMahon, owner of Danny Mac’s Pizza, is one of five partners in the new Tim Tam. McMahon told Insider that the new location for his pizza brings his business full circle. Twelve years ago, he opened his first pizza place right next door to Tim Tam.
“I love it,” he said about being back in the neighborhood. “I’m so excited. They’ve worked really hard to get it open.”
Danny Mac’s Pizza will continue to operate out of its Mellwood Arts and Entertainment Center location in addition to the new Tim Tam.
Local investor Kenny Sullivan, who’s also a co-owner, confirmed that his team has been working for most of the year to get the bar back open after running into issues leftover from previous owners. Workers completely transformed the space from a dark, unkempt dive bar into a family-friendly neighborhood pub.
Once Tim Tam hires more staff, Sullivan added, they plan to expand the menu and offer plate lunches.
For now, the hours are 3 to 10 p.m. Monday through Wednesday; 3 p.m. to midnight Thursday and Friday; 11 a.m. to midnight Saturday; and 1 to 10 p.m Sunday. Tim Tam’s is located at 1022 Clarks Lane. —Sara Havens
Kroger reopens store near UofL campus, debuts new checkout technology
As part of Kroger’s ongoing investment in its stores, the Cincinnati-based grocery company has introduced a new digital checkout technology called “Scan, Bag, Go” at its recently renovated location near the University of Louisville.
With the new technology, customers can use a Kroger-provided scanner or download the “Scan, Bag, Go” mobile application to ring up food and other goods they want to buy. Once they’re done shopping, customers can pay through the mobile application or at the self-checkout, helping to eliminate the waits at checkout counters.
Kroger invested $14 million in the 96,000-square-foot store at 3165 S. Second St. to expand its produce, meat, deli and seafood sections, as well as add a Starbucks, wine and spirits shop, an Eli’s Bar-B-Que and a mural called “Often Seen Rarely Spoken” painted by four local artists. The store also added 100 new jobs, totaling more than 260 associates.
The grocery company has been investing millions in its stores to keep up with growing competition from meal delivery companies, Amazon and others. “Scan, Go, Bag,” which will be rolled out at other locations in the future, is Kroger’s latest response to that. —Caitlin Bowling
Ford, UPS, Churchill Downs shares surge following earnings reports
Shares of Churchill Downs, Ford and UPS surged Thursday after solid earnings reports.
Churchill Downs shares traded for more than $275 in late afternoon trading, up more than 8 percent for the day.
After markets closed Wednesday, the Louisville-based gaming company said that it recorded first-quarter earnings of $189.3 million, up 13 percent from a year earlier, while net income from continuing operations increased more than six-fold to $14.1 million.
The increased earnings were primarily because of higher profits in its TwinSpires and Casino segments.
Ford Motor Co. shares spiked Thursday after the automaker reported better-than-expected profits and announced plans to shift its focus from almost all cars to SUVs and pickups.
Ford said first-quarter net income was up 9 percent to $1.7 billion, thanks to a lower tax rate, while revenue rose 7 percent.
In late afternoon trading, Ford shares were up 3.4 percent; the Dow Jones Industrial Average was up 1.1 percent.
Shares of UPS also were up. The logistics giant’s stock rose more than 4 percent late Thursday afternoon after it beat earnings and revenue expectations, a result of lower taxes, more deliveries and more revenue per delivery.
UPS saidfirst-quarter net income rose to $1.35 billion, up 15 percent from a year earlier, while revenue rose 10 percent to $17.1 billion. —Boris Ladwig
Old Forester Distillery to open on National Bourbon Day
We’ve finally got an official date for the opening of the $45 million Old Forester Distillery on Whiskey Row, and it’s Thursday, June 14, a.k.a. National Bourbon Day.
The 70,000-square-foot working distillery will showcase each step of the bourbon-making process, from grain to glass, and even the making of a barrel.
Of course, a grand opening wouldn’t be complete without a party, so A Toast to Whiskey Row will be held the following day on June 15 and include cocktails, appetizers, live music and a Q & A session with Old Fo’ president Campbell Brown and master taster Jackie Zykan. Tickets are $150.
“Nearly 150 years ago, my great-great-grandfather, George Garvin Brown, signed and sealed Old Forester with a pledge to craft bourbon of the highest quality and utmost consistency,” Brown said in a news release. “We’re thrilled to return to our former home and share with the world the spirited story of the hometown bourbon of bourbon’s hometown.”
Papa John’s adds beer delivery
Louisville pizza chain Papa John’s is following the example of competitor Pizza Hut and testing beer delivery.
Papa John’s 10th Street store in Jeffersonville now has beer on its menu for carry-out or delivery. Brands listed are Miller Lite, Coors Light, Yuengling Lager, Dos Equis and Coors Banquet, and prices range from $8.99 to $10.99 for a six-pack of 16-ounce beers.
According to a report from website Vinepair, that is the only Papa John’s location that will sell beer for now. Companies have been looking at beer delivery as a new way to boost business.
Pizza Hut has not commented on how its beer delivery trial in Phoenix is going since it was first reported in December 2017. Beer has not been spotted on menus in Louisville or Southern Indiana yet, though.
New Albany-based District 22 Pizzeria is the only locally owned pizzeria currently delivering alcohol. —Caitlin Bowling
Louisville City FC has hired Louisville-based advertising firm Doe-Anderson to support the soccer club’s marketing efforts.
Kentucky’s unemployment rate fell to 4 percent in March, the lowest rate on record since the Bureau of Labor Statistics began releasing statewide monthly data in 1976, according to KentuckianaWorks.