Marketing

Aggressive price cuts took a toll on the nation's largest grocery store operator in its second quarter.    Kroger Co.'s net income fell to $353 million, or 39 cents per share, in the quarter ended Aug. 12, from $383 million, or 40 cents per share, in the year-ago period. Its results were in line with the Street estimates. Gross margins fell by 30 basis points.  

Target Corp. is launching an array of private brands and the discounter is giving them a big kickoff.   The discounter will launch an aggressive marketing campaign for the new labels, AdAge reported, including everything from print and television spots to in-store events and visual merchandising.      

PREIT, which has long been pursuing a strategy of unloading underperforming malls from its portfolio, announced it has sold the Logan Valley Mall for $33.2 million net of credits issued to the buyer. The new owner’s identity was not released.   The Altoona, Pennsylvania, mall -- anchored by Macy's, J.C. Penney and Sears -- had been turning in sales-per-square-foot of $324 versus an average of $475 for the rest of the PREIT portfolio.  

A start-up that specializes in melted-sandwiches made from high-quality ingredients is looking to go nationwide.   Melt Shop hopes to grow to 100 locations during the next five years across the U.S. and internationally via franchising, The brand, founded in 2011 in New York, currently operates six corporate-owned locations in New York, one at Mall of America, Bloomington, Minn., and one in King of Prussia, Pa. It recently expanded into the Middle East and will open seven locations in the region, with four opening in Kuwait by March 2018.

The price wars among the nation's leading retailers has taken a new turn just ahead of the critical holiday selling season. On Friday, Target revealed in a blog post on its website that it had lowered prices on "thousands" of items, from cereal and paper towels to baby formula, razors, bath tissue and more. The discounter said the move would help end shoppers' uncertainty over the timing of discounts on certain products, and make for "more consistent savings."

David Weinreb, who took The Howard Hughes Corporation public, will now take the company well into the next decade.   The Dallas-based company announced it has entered into a new employment agreement with Weinreb that runs through 2027. As part of the deal, Weinreb completed the acquisition of nearly two million stock warrants in the company at a cost of $50 million.  

Amazon is stepping up its commitment to machine learning.   The online giant plans to open a new research and development (R&D) hub in Barcelona, dedicated to machine learning. Amazon expects to open the lab in early 2018, according to The Verge.   Amazon plans to hire more than 100 engineers and scientists for the lab.   

Aptos has tapped an industry veteran to assist retailers on their transformation journeys.   The retail technology solution provider has named Vicki Cantrell as its retail transformation officer. In this newly created position, she will oversee Aptos functions for business consulting and strategy, value engineering, and strategic account management. Cantrell will also leverage her retail background to advise and support Aptos customers as they reinvent their businesses for omnichannel growth, profitability and customer loyalty.

Two experienced retail executives have joined the management team of the parent company of such brands as Men's Wearhouse and Jos.A. Bank.   

Pure Hockey is converting its various store banners to its namesake brand.    The company, which owns the Pure Hockey, Total Hockey, and HockeyGiant brands, will begin rebranding all of its retail stores as Pure Hockey. Pure Hockey acquired HockeyGiant in September 2015 and acquired Total Hockey in August 2016, giving the company a total of 53 retail locations across the United States, along with four e-commerce sites specializing in hockey, goalie, and lacrosse equipment.