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Ikea's worldwide sales rise 3.1% in fiscal year

CONSHOHOCKEN, Pa. — Swedish retailer Ikea said worldwide sales rose 3.1% to 27.9 billion euros in the fiscal year ended Aug. 31.

The sales figure, which equals about $37.38 billion, includes same-store sales growth of 1.8%.

In a press release announcing the sales figures, Ikea said its strongest growth occurred in Russia and China, but said there also was "significant progress" in its North American stores.

"Value for money is increasingly important to our customers - and our sales development shows that people all over the world appreciate our concept of good quality, well-designed products at lower prices," said Peter Agnefjall, president and CEO.

Ikea currently has 303 stores in 26 countries, including 38 in the U.S. The retailer is No. 2 on Furniture/Today's Top 100 list, with an estimated $2.53 billion in furniture, bedding and accessories sales at its U.S. stores for the fiscal year that ended Aug. 31, 2012.

The company said it will release complete financial results for the most recent fiscal year in January.

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