Business World

Saturday 21 July 2018

Ikea reveals it packs in more wind turbines than stores

Wind turbines at an Ikea store in the Netherlands
Wind turbines at an Ikea store in the Netherlands
Ellie Donnelly

Ellie Donnelly

Ikea has posted rising full year sales and revealed that it now owns more wind turbines than stores as it moves a step closer to becoming "energy independent".

The Swedish retailer, which has stores in Dublin and Belfast, said group sales for the year to August grew 3.8pc to €34.1bn, with 817 million customers.

Ikea also saw 2.1 billion visits to its website and has revealed proposals to sell its flatpack furnishings on ecommerce websites such as Amazon to mitigate a decline in store visits.

The group also recently acquired TaskRabbit, a startup that links freelance workers with jobs.

New chief executive Jesper Brodin said: "We will use our stable financial situation to invest in meeting the needs of our customers even better."

As part of "making a positive impact on the climate", Ikea said that following investments in France, Canada and Lithuania, its total number of wind turbines has risen to 415.

"This means Ikea Group now owns more wind turbines than stores," Ikea said.

Indo Business

Business Newsletter

Read the leading stories from the world of Business.

Also in Business