ROSEMARIE LENTINI September 03, 2012 The Daily Telegraph THEY’RE the destination stores that have attained cult status for what they sell and how long they’ve sold it. Tucked away in suburban streets, these family businesses survived several retail slumps and have become cultural icons. From Stanmore’s timewarp establishment Olympia Milk Bar on Parramatta Rd, whose owner refuses photos and interviews, to “Tobacconist Extraordinaire” Sol Levy on George St, people from all over Sydney flock to – or least know of – these remnants of a bygone era. Head of UTS business school management Dr Antoine Hermens said strong community links keep niche outlets in business. “Iconic status doesn’t happen by accident. They have a long history, and people are passionate about their stores,” he said. “For owners, it’s more than making a buck. They worry about what the customer thinks of them and not about the last dollar. “Interactions with…

Will Oremus August 31, 2012 The Age A number of articles lately have attempted to convey the full measure of Apple’s unprecedented streak of business success. Perhaps the most mind-blowing factoid about the company’s value came this week from Kontra, via Twitter: at the time of his tweet, Apple’s market capitalisation had exceeded that of Google, Facebook, Microsoft and Amazon – combined. One reason for that phenomenal success is, of course, Apple’s products. Another is its customer service, namely the Genius Bar, where bright-faced young geeks win customers’ hearts and build brand loyalty that Apple’s competitors can’t match. Apple’s manual … reveals a firm so bent on maintaining customer loyalty that it will go to abnormal lengths to show its workers exactly how to behave in all situations. How do they pull off this “high-touch” approach? Gizmodo this week reported on a leaked copy of Apple’s training manual for Genius…

AAP September 03, 2012 HUNDREDS more Darrell Lea workers will lose their jobs after a deal was struck to sell the troubled chocolate maker. The confectionary company on Monday was sold to the Quinn family, which plans to restructure the loss-making business. The family said the restructure will result in 246 permanent and 172 casual Darrell Lea employees being made redundant. Under the restructure, the remaining 27 Darrell Lea company-owned stores will close their doors for the last time on Sunday. However chocolate lovers will still be able to buy Darrell Lea goods through the network of 1,200 licensed retailers, wholesalers and exporters. Darrell Lea was put up for sale in July after administrators took control of the company to save it from financial ruin. The chocolate manufacturer had been experiencing trading problems for some time, with soft retail conditions partly to blame. Darrell Lea in August halved the number…

Teresa Ooi August 28, 2012 The Australian CONSUMERS still have an appetite for Four’N Twenty meat pies, with manufacturer Patties Foods increasing full-year net profit 6 per cent to $19.5 million. Revenue was up 8.8 per cent to $235.8m, while earnings before interest, tax, depreciation and amortisation rose 5.6 per cent to $38.7m. This was marginally above average market expectations of $38.5m, based on a survey by Bloomberg. “In a trading environment where consumers continue to shop for value, strong revenue growth of 8.8 per cent has been achieved through product innovation, new contracts and growth in branded products,” managing director Greg Bourke said. The company will pay a fully franked final dividend of 4.4c per share, up from 4.2c previously. Patties said that automated packing technology had improved manufacturing efficiency and it had launched 17 new product lines, with another 20 to be introduced next year. Patties brands include…

Brian Robins August 28, 2012 The Age AVERSION to ethanol fuels is driving a fatter bottom line for Caltex as it increases its marketing push before the closure of Sydney’s only remaining oil refinery, at Kurnell. The company posted a net profit of $167 million for the six months to June 30, down from $270 million a year earlier, although by stripping out oil price movements, the profit surged to $197 million from $113 million. Caltex enjoyed strong growth in sales of premium fuels – both petrol and diesel – profiting from driver aversion to ethanol, as well as car maker demands that it not be used. Impressive margins and profit growth have prompted Caltex to raise capital spending as it prepares for life after Kurnell, planned for 2014. Caltex is to nearly double capital spending to as much as $450 million this year from $242 million spent last year,…

John Dagge August 27, 2012 Herald Sun CALTEX Australia has reported a 38 per cent drop in net profit after being hit with $30 million in crude and inventory losses. Net profit after tax fell from $270 million to $167 million in the year to June on the back of lower oil prices, the company announced today. Profits on a replacement cost basis, which strips out the effect of changes in the world oil price, rose from $113 million to $197 million over the same period due to better margins from its refinery and transport fuel operations as well as marketing of petrol. The result was in line with Caltex’s recent forecast of a first-half net profit of between $185 million and $205 million. The company declared a fully franked interim dividend of 17 cents per share. In July Caltex announced it would transform its Sydney oil refinery at Kurnell…