European Stars and Stripes (Newspaper) - May 10, 1991, Darmstadt, Hesse                                Friday May 10, 1991 the stars and stripes a a Page 17money matters today s tip the nations largest Black owned companies said they had a 5.2 increase in sales last year according to an annual Survey by Black Enterprise Magazine. By contrast the top 500 american companies listed by Fortune Magazine showed a 1990 sales increase of 6.4 percent. A Gross sales for the largest Black owned Industrial and service companies and automobile dealerships increased to $7.16 billion in 1990 from $6.81 billion in 1989.no conversion rates because of the ascension Day Holiday most Continental european markets were closed on thursday. The official rate for the Sale of German Marks to . Personnel for personal use remains at 1.69 through Friday based on wednesdays noontime Price fixing at merchants National Bank a branches in  York Exchange new York up a York Stock Exchange the 15 most Active stocks m new composite trading on wednesday. Stock sales last net chg. Occident a petrol 3.521,300 20 % up 1 i Amer express 3.327,200 24 % Oft % Rwjr Nabisco hid 2,198,400 11 up % cams Energy corp. 2,045,800.24% off % Texas utilities 1,517,700 37 a up % blockbuster ent 1,438,300 9 %. Off % . 1,424,400 22% off 1 Eljer to dusts 1,418,300. 21% up 8% Duracell inti 1,405,300 21% up % ism corp. 1,384,000 103% up 1 % Exxon corp 1,335,000 58 % up % Pepsico inc get corp 1,322,200 31%. Up 1,297,100 30 off % Wal Mart stores 1,288,400 40 off at amp to company. 1259.100 36 a up american Exchange new York up or the ten most Active stocks in american Stock Exchange composite trading wednesday. Stock Dow chemical it am exploration. Tubes de Acero fruit of loom Amdahl corp Jan Bell mtg. Americus 00 so instrument sys Western digital Wang labs inc b sales last net chg. 720,400. 8 up % 497,000. 3% up .400,200 9%. Up 392,600 15% up % 355,700 15% up % .345,700 11% up % 333.400 8% a a a a a up 299,600 3 v off % 219,800 s. Off .208,100 3 %. Up Dow Jones new York Dpi a Dow Jones closing Range of averages wednesday a a 30 industrials. 20 transport 15 utilities 65 stocks High 2945,21 1186.71 213.72 1059.52 Low 2898.70 1168.55 210.70 1043.20 close change 2930.90 up 13.41 .1178.24 up 3.17 213.41 up 1.89 1054.20 up 4.91nans of Oil pact Sofia Bulgaria up a partnership involving British . And austrian companies and a bulgarian government Agency signed a licensing agreement thursday granting the Western firms the right to conduct Oil exploration operations on the bulgarian Black sea Continental shelf. James Mcgraw the vice president of .-based Texaco exploration offshore Bulgaria ltd., said he is a a optimistic that a there Are Good chances to discover Oil in the  in a separate development Mcdonald a general manager for Central Europe Andreas Hacker was in Sofia to study the bulgarian Market. Hacker said that he had held talks on the prospects of Mcdonald a establishing restaurants in that City. _. A a amps Ous Schuttlor an Ike a customer prepares to unload her mini trolley in Wallau Germany. At right shoppers stroll past an array of goods. When you need furniture Ikea May be place americans find by Randy Mcclain financial writer Frankfurt Germany a Ikea the fast expanding swedish furniture Chain is adding to its riches by capturing sales from americans both those stationed overseas and shoppers in the United states. A a a a every customer is important. If peo pie buy something in Europe and bring it Back to the states this knowledge about Ikea and that they like it could help us a said Ake Karlsson marketing director for the company in Frankfurt Germany. In Europe Ikea a unique design and self service approach to buying furniture have conquered a number of retail markets and it is making headway in the United states. Ikea also is a familiar name with americans stationed in Germany Belgium the United kingdom and the Netherlands where 26 of its 90-plus outlets Are open for business. Service members generally give Ikea High Marks for reasonable prices and a wide selection of merchandise. A i think its kind of fun. Its so different from most stores in the United states a said Renee Rector of Mainz Germany. Rector whose husband is an army lieutenant commented on the store during a recent shopping trip to the firms largest German outlet in suburban Frankfurt. Rector and shopping mate Debbie Farthing whose husband is a Captain in bad Kreuz Nach said they like the idea that most furniture can be carted Home from the store the same Day its purchased rather than waiting several Days for delivery. Ikea furniture a lot of which is sold packed in Flat Cartons generally has to be assembled at Home. But both women said they like the do it yourself approach As Well As the savings it can deliver. A a their furniture is Light and that fits in nicely with a military family a weight allowance a added Rector noting that much of Ikea a merchandise is crafted from Pine and other soft Woods. Still some shoppers Are put off by the Ikea look and the modest size of its pieces. They favor sturdy Oak instead. Another criticism is that beneath the sur shopping in year. Nusi Europe one in an occasional series face Ikea craftspeople often use parti. Leboard fiber fill and other synthetics to keep costs Down. A everyone must buy Small in Europe a said Tammey Zugg whose husband capt. Victor Zugg works with an air Force special investigations unit in Wiesbaden Germany. A maybe they want to save  nevertheless the Zugg family recently spent 1,200 Marks $7001 on a wraparound desk for the family a study and they re pleased with the Purchase. A i like its uniqueness. Its kind of european and i like the change a Tammee Zugg said. Other bargains on display recently at Ikea included a sofa bed for $255 a simple desk for $76 a closet with sliding doors for $100 a dining room table for $237 and a Complete Home office including desk three chairs bookshelves typewriter table and accessories for $1,130. One septic though is Gunther Kons Chake owner of Wmk furniture in Friedberg Germany who has been Selling furniture to american service Mem ers for 17 years. A Many americans see Ikea s merchandise As unfinished Wood. They prefer Oak and mahogany a he said. Konschake rated Ikea a products As top notch for the Price but he said they Arentt designed to last forever. A most americans want to build up their furniture for a lifetime not just a year or two a he said. Despite such criticism Ikea appears to be thriving. The business Magazine Money recently named Ikea its store of the year for 1990. The Magazine praised the company a rapid growth in the United states where sales reached $169 million last Overall Ikea is a $3.2 billion a year Ness operating in 23 countries. . Sales amounted to $400 per Square foot last year or nearly three times the National average for furniture outlets. After six years in the states Ikea is in a half dozen cities including Philadelphia Washington Baltimore Pittsburgh port Elizabcth . And the los Angeles area. A your business idea is to offer Good Quality furniture at very Low prices a said Karlsson. Company officials plan to add at least two . Stores a year through 1995, with one store to open this Spring in Long Island ., and others targeted for Boston Westchester  Or Connecticut in the near future. Ikea a approach to conquering the american retail Market is very similar to the tactics the store has used successfully in Europe. Stores Are built in suburban areas near Large population centers on both continents. In the United states Ikea often attaches itself to suburban malls and Waits for the crowds to arrive. Retail experts in the states said that Ikea needs very Little help from advertising to create a stir when it opens. A recent store opening in the los Angeles area resulted in a Wall to Wall let during the stores first few Days said Jody Martin a retail consultant w the Stiller Man amp Jones of Indianapolis. The firm advises shopping malls on which stores to sign up for their centers. A a it a a wonderful store. Wherever they be entered new markets they be taken them by storm a Martin said. Martin said american shoppers Are enamoured with the stores special attractions in addition to its furniture. Chief among the extras is the Ikea play land which offers a place for the Young children of shoppers to let off steam in a supervised environment while mom and dad spend Money. Martin acknowledged that the Ikea method of requiring customers to lug their own furniture purchases to a checkout counter on mini trolleys or to Load lamps and Small appliances into shopping carts is different