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 AUSTRALIA
FRANCHISE NEWS ARCHIVE
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: : Jan-Jun 2001
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Harvey Norman home loans on the cards. Harvey Norman
might offer home loans to customers before the end of the year, after
the retailer sifts through proposals to expand its finance division.
.... [more]
29/6/01
Rebel Sport directors agree to sell to Harvey Norman.
Five directors of Rebel Sport Ltd will sell at least part of their
shareholdings under Harvey Norman Holdings Ltd's takeover offer. ....
26/6/01
Pizza Hut withdraws action against Eagle Boys.
American fast-food giant Pizza Hut has withdrawn its Federal Court
case against Australian-owned rival Eagle Boys. .... 24/6/01
Franchisee offers pizza the action. Big growth
in the takeaway pizza market is behind international chain Pizza Haven's
plans to expand 10 per cent domestically over the next six months,
franchisee manager Nick Davoli said. .... 23/6/01
Burger King Loses Court Battle. Fast-food restaurant
concern Burger King has been ordered to pay about $39 million to a
franchisee for trying to take a bigger bite of the Australian burger
market. .... 22/6/01
INTEREST - Common Australian, NZ currency a matter of
time: economists. Economists said that concerns about the
adoption of a common central bank and nationalistic passion were the
key factors standing in the way. .... 20/6/01
Pick'n Pay, Franklins sign store deal. Franklins
has signed a binding agreement to sell 53 stores to the Australian
subsidiary of South African retail giant Pick'n Pay Stores. .... 18/6/01
UK bookseller buys two biggest book chains in New Zealand
and Australia. Giant British bookseller WH Smith revealed
last night it had agreed to pay $126 million for the Whitcoulls and
Angus & Robertson chains. .... [more]
16/6/01
Pizza chain seeks supreme victory. Brisbane-based
pizza company Eagle Boys will continue its Australian-owned ad campaign
after yesterday winning the first round of a Federal Court battle
with multi-national fast-food giant Pizza Hut. .... 14/6/01
Sales deal looms for 94 Franklins stores. South
African retail giant Pick'n Pay inched closer to its foray into Australia's
grocery market, officially securing 51 Franklins stores. .... 13/6/01
Harvey Norman plans home loans move. Harvey Norman
is considering offering home loans as part of an expansion of its
finance division. .... [more]
12/6/01
Pick 'n Pay takes 'conservative' route to Oz.
Pick 'n Pay, the country's largest supermarket chain, had operated
"conservatively" in its recent acquisition of 73 Franklins and Fresco
brand grocery stores in Australia for R500 million, and would probably
have bought more stores had it been able, Sean Summers, the chief
executive, told television viewers here yesterday. .... [more]
11/6/01
Grocery chains gear up for battle. The entry
of South African retailer Pick'n'Pay, on top of the launch of stores
by German giant Aldi, promises to add extra fire to already fierce
competition in grocery retailing. .... 11/6/01
No Frills intends to be fair dinkum. South African
retail giant Pick 'n Pay is confident that it can transform the loss-making
Franklins supermarket chain into a profitable business within three
years. .... [more]
8/6/01
Capt'n Snooze hopes for dream run. Retail
bedding king Capt'n Snooze is seeking a back-door listing through
a reverse takeover of a struggling furniture maker. .... 8/6/01
ACCC won't proceed with case against Video Ezy.
The consumer watchdog said today it ended legal action against Video
Ezy despite preparing extensively and having what it regarded as a
strong case of price exploitation. .... 7/6/01
H Norman won't raise bid for Rebel Sport. Harvey
Norman has warned it will not increase or extend its $52 million takeover
bid for Rebel Sport despite a disappointing start, with less than
1 per cent of shareholders in the sporting goods retailer so far accepting
the offer. .... [more]
6/6/01
McDonald's Boston Market to enter Australian market.
Boston Market Corp. and McDonald's Australia said Tuesday they formed
a partnership to develop the first Boston Market restaurant outside
the United States, set to open in suburban Sydney, Australia in 2002.
.... 5/6/01
Colonial job cuts in place for final stage.
Commonwealth Bank of Australia accelerated its cost-cutting in the
first half of 2001 and has already removed most of the 2,500 to 2,700
people expected to lose their jobs after last June's $10 billion takeover
of Colonial. .... [more]
2/6/01
CBA shifts Colonial accounts. Commonwealth Bank
is poised to complete one of the pivotal legs of its integration of
last year's $10 billion Colonial acquisition, as it switches 1 million
Colonial customers over to CBA accounts this weekend. .... [more]
1/6/01
Analysts back Pick 'n Pay's Australian deal.
Retail analysts welcomed Pick 'n Pay's investment in Australia yesterday
although they said the acquisitions, which would give the supermarket
retailer a small share of the Australian market, would take time to
bed down. .... [more]
30/5/01
Pick 'n Pay buys 80 Australian stores for A$125m.
Pick 'n Pay, the listed food and clothing retailer, has concluded
an agreement to purchase approximately 60 Franklins "No Frills" stores
as well as 20 Fresco stores, including related fixed assets, stocks
and the trademarks. .... 29/5/01
Freedom ahead by 25pc in tough times. Freedom
Group increased interim net profit by 25 per cent and declared a special
dividend despite some of the most difficult trading conditions in
years and warning a recovery was still some way off. .... [more]
17/5/01
Consumer revolt: Harvey Norman sales hit. The
slump in consumer spending has savaged Harvey Norman's sales in the
past few months, leading the furniture and appliances retailer to
post one of its worst-ever quarters. .... [more]
13/4/01
Harvey in $52m Rebel bid. Harvey Norman has
made a friendly $51.6 million takeover bid for sporting goods retailer
Rebel Sports, the company's first major attempt to expand beyond its
core furnishings and appliances business. .... [more]
7/4/01
Harvey Norman profit up, chairman rejects recession.
Harvey Norman posted a relatively lacklustre 10.2 per cent
rise in first-half net profit and cautioned that the outlook remains
bleak, with sales growth in the early stages of the new year slowing
to a trickle. .... [more]
17/3/01
Harvey WT lives for tomorrow. Harvey World Travel
hopes to lift its lacklustre sharemarket performance by predicting
a sharp lift in profits next financial year, thanks to December's
acquisition of Thomas Cook's retail travel business. .... [more]
7/3/01
Reluctant shoppers scrape a little more from Harvey.
Harvey Norman shares dropped to a seven-month low yesterday
as the second major earnings downgrade within a week on the stock
rippled through the market. .... [more]
20/2/01
Freedom optimistic of riding out downturn. Furniture
retailer Freedom Group is "cautiously optimistic" about the future,
with expectations of an interest rate cut and underlying strength
in the core business offsetting poor performances from its Guests
and Andersons divisions. .... [more]
7/2/01
Harvey lifts sales, calls for rate cut. Harvey
Norman reported a strong rise in first-half sales but warned that
conditions could worsen if the Reserve Bank did not cut interest rates.
.... [more]
16/1/01
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