• Clint Engel

Ikea worldwide sales increase to $40.2 billion

CONSHOHOCKEN, Pa. — Ikea Group, the parent of the Ikea U.S. based here, reported retail sales of $40.2 billion for the fiscal year ended Aug. 31, up 3.8% from the previous year after adjusting for currency impact.

The company, with 355 stores in 29 countries, said it stores saw some 817 million visits while its Ikea.com websites saw more than 2.1 billion visits. It did not report same-store result as it did the year before.

“We will use our stable financial situation to invest in meeting the needs of our customers even better,” Jesper Brodin, president and CEO of IKEA Group, said in a statement.

Brodin, named CEO Sept. 1, said he spent his first month in charge visiting stores in several countries and listening to employees and customers.

“Now I’m even more convinced that we are on the right track to become fully accessible to our customers,” he said.

The company said it continued to improve this past year with new store formats, shorter lead times and improved distribution solutions, “all with the aim to reach more people with an affordable and seamless Ikea experience,” and it pointed to the recent acquisition of TaskRabbit as an example.

“In a fast changing retail environment, we strive to make our customers’ lives a little bit better,” Brodin said. “This year, we are putting a spotlight on the living room and have improved the living room area in all our stores and are presenting a wider range of products and smart home furnishing solutions.”

The company also noted it recently made wind turbine investments in France, Canada and Lithuania. It now owns more wind turbines (415) than stores and is getting closer to its target to become energy independent in its operations by 2020.

The company’s U.S. operations are No. 3 on Furniture Today’s Top 100, with estimated furniture, bedding and accessory sales of $3.2 billion at 42 stores for the fiscal 2016 year. That’s up 4.1% from the year before.

Clint EngelClint Engel | Senior Retail Editor, Furniture Today

Please feel free to email or call me with all of your retail news and tips, including expansion news, successful merchandising and marketing strategies and anything else you would like to see covered by Furniture/Today.  Contact me directly at cengel@furnituretoday.com or 336-605-1129.


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