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Ikea enjoys 3% sales increase

ikeafrontIkea has seen sales rise by 3% to €28.7bn in the past year, and would have almost doubled that without currency fluctuations.

Like for like sales rose by 3.6% adjusted for currency changes and total sales by 5.9% adjusted for currency changes in the year to 31 August.

'The IKEA Group keeps growing and I am happy to see an increased growth in all our sales channels; in existing stores, in the opening of new stores and online. Our sales development shows that people all over the world appreciate our great home furnishing products at affordable prices,' said Peter Agnefjäll, Ikea Group ceo.

China was the fastest growing market, North America continued to perform well and performance improved in Europe, which accounts for more than two-thirds of sales.
'We continue to see positive signs in consumer spending and it's a great joy to report growth in almost all our markets, not least in the challenging markets in Southern Europe. We have a clear multichannel strategy. We are becoming more accessible by continuing to improve our existing stores, by opening new stores and by expanding our ecommerce service and in-store-pick and delivery service.
'I see great opportunities for continued growth. We are still small in many markets, we have a strong business model and a fantastic team of dedicated co-workers.'
Full financial details will be not be revealed until the publication of its IKEA Group Yearly Summary in January.