Ikea is seeking expansion in Ireland following record revenues and profits in its Dublin store last year.
2.6m customers visited the store last year. Pre-tax profits from Ikea’s Ballymun outlet almost doubled to €13.1m last year, as revenues grew 17% to €131.9m. It was the Swedish retailer’s busiest year in Ireland since its first n 2009/10 during when it generated profits of €11.4m.
“We are pleased to report positive growth in the Ikea Dublin store in financial year 2015,” said Store Manager Marsha Smith.
“What we have seen over the past few years is that where we invest, we see growth — whether it be in improving the shopping experience for our customers, lowering our prices or in developing and rewarding our people.”
“In the past year we have continued to invest in the in-store shopping experience and undertaken rebuilds of our bedroom, bathroom and cooking and eating departments,” she continued.
“We have also invested in lowering our prices across the range as we look to provide home furnishings to as many people as possible, no matter how much money they have.”
“Ikea is committed to expanding in the Irish market and has been identifying sites in Ireland for a potential second store,” she added.
“Looking forward, we will continue to focus on helping families in Ireland live a better everyday life by showing inspirational and affordable pr
oducts and solutions.
“In particular, we will be focusing on our kitchens business and continuing to improve our services such as home delivery and kitchen assembly.”
Directors said that they anticipate that the level of activity and profitability in future years “will continue to be in line with expectations.”
Last year Ikea, which is the world’s largest furniture retailer, recorded global revenues of €31.9bn and 77m customer visits to stores.