Ikea store attracts 27,000 opening-day customers.Ikea store attracts 27,000 opening-day customers BURBANK Burbank, city (1990 pop. 93,643), Los Angeles co., S Calif.; inc. 1911. Tourism and the entertainment industry are central to its economy; several motion-picture studios and television headquarters are here. Burbank's aerospace industry collapsed with the end of the Cold War. - Stor's competition has finally arrived. Some 27,000 customers attended the Nov. 7 grand opening that marked the Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, debut of Ikea, an 88-store, Swedish-based furniture retail chain. Rene RENE Recycling Network Europe RENE Rocket Engine Nozzle Ejector Hausler, president of Ikea U.S. West, said he estimated the new store sold more than $500,000 worth of merchandise MERCHANDISE. By this term is understood all those things which merchants sell either wholesale or retail, as dry goods, hardware, groceries, drugs, &c. It is usually applied to personal chattels only, and to those which are not required for food or immediate support, but such as remain during its first day. The biggest seller was a $29 black, metal Halogen lamp halogen lamp or tungsten-halogen lamp Incandescent lamp with a quartz bulb and a gas filling that includes a halogen. It gives brilliant light from a compact unit. . Another big seller was an Aspyik sofa, which was advertised as an opening special in newspaper, Hausler said. The 240,000 square-foot store provides more than furniture. Inside there is also a 400-seat restaurant which sells Swedish food, and the store also provides child care facilities. The crowd on opening day was so enormous that at one point a few hundred customers were forced to wait in line outside, Hausler said. Ikea's opening is causing new competition for City of Industry-based Stor a. 1. See Stoor. , another furniture retailer which operates three outlets in Southern California. Each Stor is about 150,000 square feet. Ikea's worldwide revenues totaled $18.7 billion during fiscal 1990, while Stor brought in $65.65 million. Stor's stock has been in trouble. On Nov. 7, the company's shares traded at between $1.50 and $2 a share, off from a high of $8.50 recorded since the stock's initial public offering April 27. Analysts anticipate that Ikea's presence will cause trouble for Stor. PHOTO : Grand opening: $500,000 worth of merchandise sold on its first day |
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