Tuesday 27 September 2016

IKEA sales grow to record €31.9bn

Anna Ringstrom

Published 10/09/2015 | 09:14

Ikea logo
Ikea logo

IKEA, the world's biggest furniture retailer, has reported an 11pc increase in fiscal full-year sales to a record €31.9bn .

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The Swedish company, known for its flat-pack self-assembly budget furniture, said comparable stores accounted for 5pc of sales growth in its fiscal year that runs through August.

IKEA Group, which owns most IKEA stores worldwide and has the bulk of its business in Europe, said sales grew in nearly all its markets, with China the fastest-growing followed by Russia.

Germany showed record growth and North America performed well, while southern Europe showed positive progress, it said in a statement.

Through a number of deals in the year, IKEA Group became the sole owner of shopping centres previously co-owned.

Reuters

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