McDonald’s to Quit Iceland After 16 Years

Ronald McDonaldFAST food giant McDonalds will shuts its three Iceland stores next weekend.

Franchise owners have cited falling profits caused by the collapse in the Icelandic krona, as a reason for shutting the three Reykjavik restaurants.

McDonalds, long considered a symbol of globalisation, and is the world’s largest chain of hamburger fast food restaurants according to Bloomberg. It opened in Iceland 16 years ago.

In July, McDonalds announced it would open 36 new Australian restaurants this year (up from the 21 it opened last year) bringing the total number of national outlets to 815.

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Candylicious, World’s Biggest Lolly Shop, Opens in Dubai’s Dubai Mall

THE world’s biggest lolly shop has opened its doors in Dubai’s Dubai Mall.

Candylicious, a candy shop of approximately 930 square metres, includes pillars embedded with lollies, a canopy of a lollipop tree and a large Candylicious aeroplane.

The store will include familiar brands such as Hersheys, M&M’s and every flavour of Jelly Belly and lollipops, as well as a collection of home made candy and specialty confectionary from brands such as Madelaine Chocolates, Miss Sweetie and Gina Michaels.

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Sydney, Melbourne on the Radar of Major North American Retailers

AUSTRALIA’s almost uninterrupted strong economic run – which has resulted in an almost uninterrupted consumption binge – is piquing the interest of North America’s major retail businesses.

According to a new report by commercial agency CB Richard Ellis, Sydney and Melbourne (image, Brighton bathing boxes, right) have both ranked in the top 10 most attractive destinations for expansion.

The survey samples 323 global retailers, and 209 cities in 73 countries.

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Sydney’s Northbridge Plaza Tops Survey of Small Shopping Centres

ACCORDING to the latest Shopping Centre News survey 2010, the Northbridge Plaza on Sydney’s north shore is the country’s best performer based on turnover per square metre.

The second best performing centre was also in Sydney – the Queen Victoria Building (QVB, pictured).

The Mini Guns survey samples more than 140 centres ranging from 6000 square metres to 20,000 square metres.

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Sydney-Based Chef Tetsuya Wakuda to Open Second Restaurant, in Singapore

JAPANESE-born, Sydney-based restaurateur Tetsuya Wakuda will open a second restaurant next June – in Singapore.

The chef will open at a Las Vegas style resort currently under construction at Marina Bay Sands in Singapore. He will join international restaurateurs including Wolfgang Puck, Mario Batali and Daniel Boulud from the United States, Guy Savoy from France and Santi Santamaria, from Spain.

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Sanity Entertainment, Owner of Virgin, HMV, Sells to Management Team for Undisclosed Sum

SANITY Entertainment has been sold to its management team for an undisclosed sum, signalling the end of the retail music business for entrepreneur Brett Blundy.

Sanity Entertainment, established 17 years ago by Blundy’s Brazin Group and later becoming part of the Brett Blundy Retail Capital (BBRC) fund is reported will now focus on music, and movies, going forward.

Sanity Entertainment includes 238 stores around the country, branded as Sanity, Virgin and HMV.

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H&M Asian Expansion Brings Retailer One Step Closer to Australia

HENNES & MAURITZ, known as H&M – the Swedish fashion giant popular throughout Europe, is expanding its reach throughout Asia.

The company revealed this week it planned to expand its China store network by 30 per cent by the end of 2010, in a move suggesting the retailer will open in Australia, within the medium term.

“It (Asia) could be the newest and biggest market for H&M in future, because there is so much potential if you look at Asia,” H&M Greater China country manager Lex Keijser told Reuters. “We’ve just started in Hong Kong, mainland China, Japan and Korea. We are still a baby, but a fast growing baby.”

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Wayne Swan Opens Country’s First Australian Made Concept Store, at Sydney Airport

THE country’s first “Australian Made” concept store opened earlier this week within the walls of Sydney’s International terminal, at the airport.

Treasurer Wayne Swan launched the store, identified by the distictive Australian Made triangle logo with a golden kangaroo, and a green background.

Mr Swan described the logo and concept to reporters as “being at the very core of our future prosperity and success in the global economy”.

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JB Hi Fi Outgrows East Keilor Birthplace

MELBOURNE-born retail giant JB Hi Fi is staring down progress, in Keilor East.

This month, the electrical and media retail chain, which is now ASX-listed, vacated the Centreway store (pictured, right) which the company’s founder, John Barbuto, opened as the first JB Hi Fi in 1974.

Barbuto sold his business in 1983 to a consortium, which by the end of the century had opened nine more JB Hi Fi outlets across Melbourne.

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Babyco Goes Into Voluntary Administration

BabycoNURSERY furniture and baby products retailer Babyco has gone into voluntary administration, casting doubt over its 22 national stores, which employs about 70 staff.

Deloitte executive Tim Norman, who is managing the administration with Sal Algeri and Simon Cathro, said four stores will remain open including Wetherill Park in New South Wales, Rowville in Victoria, Underwood in Queensland and St Marys in Adelaide.

Administrators are investigating options to restructure the business, with a view to selling it off, Mr Norman was reported as saying in the Daily Telegraph.

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Coles, Woolies Fail to Reply to ACCC Questions

SUPERMARKET giants Coles and Woolworths have not yet responded to the Australian Competition and Consumer Commission, regarding claims they restrict competition by blocking rival supermarkets opening nearby. The ACCC uncovered the potential breaches of the Trades Practices Act as part of the 2008 grocery inquiry.

Coles has not responded to repeated requests by the ACCC, while Woolworths is referring its question to the National Retailers Association, a Woolies spokeswoman telling the AFR “We’re not going to be commenting and we’re referring all comment to the retailers’ association…because this is regarding retailers’ leases and there are many retailers.”

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Costco Auburn to Open Next Year

DISCOUNT giant Costco is proposing a $55.4 million retail centre and office at a site in Sydney’s western suburb of Auburn.

The facility is expected to open late next year and will include a 14,000 square metre, 3-storey warehouse and commercial building and 860 car parks.

The store would be Costco’s first in Sydney, and would act as the company’s Australian office headquarters.

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McDonald’s to Open More than 150 Stores in The Next Five Years

Ronald McDonald
FAST food giant McDonald’s expects to open 36 new restaurants in Australia this year, up from 21 new restaurants it opened last year.

McDonald’s chief executive Peter Bush said it planned to open more than 30 stores a year from 2010, a mix of company-owned and franchised stores.

By the end of this year, McDonald’s is expected to operate out of 815 retailers nationally.

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The Reject Shop Issues Major National Leasing Requirement

MELBOURNE born retailer The Reject Shop has issued a major leasing requirement to prospective landlords, in an attempt to further expand its national network.

The discount retailer, which last month reported an $18.9 million half-year profit, and has enjoyed a buoyant business because of the bleak economic backdrop, has targeted locations in every state and territory including the Northern Territory, the only major region it does not trade.

A leasing requirement document issued by the Reject Shop says its strategy is to grow by at least 20 stores a year.

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Forges of Footscray to Become Fresh Food and Variety Goods Market

A giant Asian-themed fresh food market – and an adjoining bazaar selling clothing and variety goods – will be developed on the outgoing Forges of Footscray site, in Melbourne’s west.
 
The syndicate of Vietnamese businessmen that paid about $16 million for the near – one hectare collection of properties in July, will split the site in central Footscray into two envelopes, divided by Albert Street.

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DFO South Wharf Opens Today, as Outgoing Spencer DFO Converted to Mainstream Mall

DFODFO South Wharf opens today, on the same day the outgoing Spencer Street DFO will be converted into a mainstream shopping centre.

Confirming the worst kept secret in Melbourne property circles, developer Austexx will relocate the popular discount arcade to its new $750 million South Wharf develpment, on the banks of the Yarra River in Southbank, just south of the Docklands border over the Charles Grimes Bridge.

The 60,000 square metre complex includes a 25,000 square metre DFO, homemaker centre, and a leisure and lifestyle area. The wider South Wharf development also includes a Hilton Hotel, and office building.

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