Holiday shoppers defied Corona

There are few signs that the Corona crisis put a freeze on holiday shopping, with sales brisk at most retail stores and soaring at online retailers. Officials at Norway’s largest bank, DNB, see “nothing that suggests a crisis” within the retail sector as a whole. “We’re seeing a strong increase despite the pandemic,” Ine Oftedahl, […]

State challenges powerful grocers

Debate has swirled for years over why grocery store prices are so much higher in Norway than most anywhere else. After lots of studies and investigations, the Norwegian Competition Authority mounted an offensive strike this week against the country’s three major grocery store chains, but with massive fines for allegedly illegal pricing cooperation that surprised and […]

Grocers rank high among Norway’s richest

Shipowner and investor John Fredriksen tops an annual listing of Norway’s wealthiest individuals once again. Right behind him, though, are owners of two of the three grocery store chains that dominate the Norwegian market. They’re doing well during the Corona crisis. Fredriksen, the former clerk from a working class family in Oslo, was listed with […]

Grocers may win border trade battle

Norwegian grocery stores have been thriving during the Corona crisis, after closed borders and Covid-19 restrictions prevented Norwegians from driving over the border to shop in Sweden. Now other moves are afoot to keep Norwegians shopping at home as the battle over border trade rages once again. Thousands of Norwegians living within an hour or […]

Norwegians go shopping again

Debit- and credit card use among Nordea bank customers in the first week of June was higher than it was before the crisis began in March. The Nordic banking group views the jump as a sign that Norwegians’ consumption continues to increase. It’s another sign that the Norwegian company is recovering from the Corona crisis. Even though […]

Gjelsten and Sunde take over Gresvig

Two of Norway’s wealthiest men, financier Bjørn Rune Gjelsten and Color Line owner Olav Nils Sunde, are taking over key portions of the bankrupt sporting goods chain Gresvig in Norway. Gjelsten said he thought it would be “a shame” if such a large and historic company like Gresvig ceased to exist. Gresvig has been part […]

Sporting goods chain files for bankruptcy

Gresvig, one of Norway’s largest nationwide sporting goods chains, filed for bankruptcy on Monday. The chain with long roots in the country claimed that costs tied to its retail store structure became “too demanding.” The board of Gresvig Retail Group has also had higher purchasing costs than arch rival XXL, for example, which has larger […]

Sporting goods chain to fade away

Sports retailer Gresvig has long been one of the dominant retailers in Norway, with its G-sport and G-Max chains highly visible all over the country. Now they’re being shut down following large losses, with most being moved over to the Intersport chain. Newspaper Dagens Næringsliv (DN) reported just before the weekend that G-sport and G-Max […]

Retailer shuts down 51 clothing stores

Norway’s Varner Group, which runs various men’s and women’s clothing chains around the country, is giving up on its formerly popular Vivike chain. It didn’t help to change its name to Days Like This, and now its 300 employees face tough days ahead. Varner announced it would close all 51 of its Days Like This […]

Slow start to shopping season

Norway’s Christmas shopping season got off to a slow start, reports retail trade association Virke. Total sales during the traditional kick-off week at the end of November were down 4.2 percent compared to the same week last year. Credit card use increased, adding to concerns over Norwegians’ rising consumer debt level. Norwegians have long had […]