Large crowds are expected when Costco opens its store in Iceland on Tuesday, next week.
Hagar hf., the retail company behind Icelandic household names including supermarkets Bónus and Hagkaup, has signed a contract to buy the oil company Olís and property company DGV ehf.
The shelves at Verslun Þorsteins Bergmann have been full of beautiful items for the home (especially the kitchen) since 1970, but the popular shop is now leaving its Skólavörðustígur home.
The arrival of the US wholesale giant Costco in Iceland this spring will have a large impact on wholesalers and domestic producers.
The Icelandic Ministry for Foreign Affairs has launched legal action against the British supermarket chain Iceland Foods.
In recent years, more and more stores in Iceland have begun to aggressively advertise their goods on Black Friday.
Customers at the Bónus grocery store on Laugavegur, downtown Reykjavík, were surprised on Saturday night not to find anyone at the registers, let alone in the aisles, ready to offer assistance.
Three 10-11 stores in downtown Reykjavík have been found to increase their prices by an average of 8 percent in the evening and on weekends.