Mass Merchant

The deals at Ollie's Bargain Outlets were too good for shoppers to pass up in the retailer's second quarter, which topped analysts' expectations.   The value retailer, whose motto is "Good Stuff Cheap," said that its net income increased 50.1% to $19.7 million, or $0.30 per diluted share, in the quarter ended Aug. 29, from $13.1 million, or $0.21 per diluted share, in the year-ago period. Adjusted net income, increased 34.0% to $17.8 million, or $0.27 per diluted share, in the quarter.   

More customers are making pet product purchases at Amazon — a practice that has increased category sales by 40%.   This was according to “U.S. Pet Market Focus: The Amazon Pet Food and Supplies Shopper,” a study from Packaged Facts.   

Target is using an unconventional way to send a message to Amazon.   In a move to take greater control of its infrastructure — and stop financing its rival — the discounter is scaling back its use of Amazon Web Services, reported CNBC.    Target plans to “aggressively” move e-commerce activities, mobile development and operations away from AWS through the end of the year and into 2018 — a plan it alluded to back in October, according to the report. 

Target Corp. is giving Trader Joe's some competition — albeit at a slightly higher price — when it comes to bargain-priced wine.    On September 3, Target will launch its own line of wines at more than 1,100 stores nationwide. The line, called California Roots, consists of five different blends, with two whites and three reds. And each will sell for $5 a bottle.  

VEREIT’s Cole Credit Property trust has acquired a thriving, value-oriented Wichita-area center.   The 100,000-sq.-ft. Derby Marketplace in Derby, Kansas, features Ross Dress for Less, TJ Maxx, and Hobby Lobby. It is shadow-anchored by Target and Dillons Marketplace.   Mid-America Real Estate brokered the sale in cooperation with RH Johnson on behalf of the seller, a private developer.

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Hurricane Harvey, the first Category 4 Hurricane to make U.S. landfall since Charley in 2004, is poised to have the same, if not larger, economic impact.  

The Randall Park Mall outside of Cleveland was part of retail history in the mid-70’s when it debuted as “The World’s Biggest Mall.” Now the site becomes woven into the retail narrative of the 21st Century.  

The Finish Line's board on Monday adopted a shareholders right plan as the retailer warned of a grim second quarter and a steep decline in sales and profits for the year.