Ikea saw a 11.9% increase in UK sales to £2.46bn as it increased margins.
The chain saw margin rise from 2.3% to 4.5%.
In-store visits rose by 2.2% (a million more visits), online sales by 19% to 38.5% of sales, remote sales by 24% and click and collect purchases by 48%.
‘In our 80th year, we can be proud of our performance. FY23 was a year in which we improved our customer experience, grew our market share and continued making meaningful investments in our business and people,’ says Peter Jelkeby, Ikea UK and Ireland ceo and chief sustainability officer.
‘Having overcome challenges posed by Brexit and COVID, we have since focused on a creating a more efficient organisation and improving our profitability, which gives us the financial strength to continue investing for generations to come. Despite a difficult economic climate, our focus remains on new locations, new store formats, and in new services.’
