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Ikea sales increase 9.5%

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Flat-pack furniture specialist Ikea’s total sales grew by 9.5 per cent in the last year after adjustment for currency impact, it was revealed today.

In the year ending August 31st 2012, sales in existing Ikea stores were up by 4.6 per cent adjusted for currency impact, and net profit rose eight per cent to €3.2 billion (£2.7 billion)

Commenting on the results, Ikea President and CEO Mikael Ohlsson said: “The Ikea business idea is more relevant than ever.

“People around the world are more value conscious and appreciate beautifully designed and functional home furnishing solutions at affordable prices.” Ohlsson added that the retailer had grown in most markets during the period, particularly in China, Russia and Poland.

Ikea opened 11 new stores in the period, increasing its number of employees by 8,000 to 139,000 and its store portfolio to 340 stores in 40 countries worldwide.

A new sustainability strategy, People & Planet Positive, was also released last year, setting goals to be achieved by the year 2020.

Within this, Ikea committed to increasing the renewable energy it produces, which currently makes up a third of its total energy consumption, and pledged to invest €1.5 billion in renewable energy.

Ohlsson concluded: “We believe in sustainable growth, by expanding from our own resources, making long-term decisions and growing within the limits of the planet.”

Published on Wednesday 23 January by Editorial Assistant

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