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High Street

Ikea retail sales jump 5% in full-year results

Furniture retailer Ikea has reported a 5% increase in retail sales to €36.7bn (£32.5bn) for the year ended 31 August 2019.

Its parent company, the Ingka Group, said this follows a number of investments during the year, including the launch of new Ikea stores in cities, strengthening its home delivery network, accelerating investments in renewable energy and digital development.

Customer visits to Ikea stores also remained at a “strong” level of 839 million, and visits to its website also increased by 10% to nearly 2.6 billion. In addition, online sales grew by 46% over the year, amounting to about 11% of total sales.

Over the year the company opened seven traditional stores, 11 smaller IKEA stores and planning studios in major cities like Moscow, New York, Paris and London. Plans are also underway for further stores in Copenhagen, Shanghai and Tokyo, among others.

Jesper Brodin, CEO Ingka Group, said: “We have had a really positive year. While going through one of the biggest transformations in our history, we’ve maintained strong performance across our business, thanks to all the amazing colleagues across the IKEA world, who continue to show leadership and entrepreneurship every day.

“We have a simple, yet powerful vision, to create a better everyday life for the many people, that we all want to deliver to, which is truly visible this year.”

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