• Clint Engel

Ikea's U.S. Sales Rose 11% in Latest Fiscal Year

CONSHOHOCKEN, PA. - Ikea reported that its U.S. sales for the fiscal year ended Aug. 31 grew 11% from the previous year, and same-store sales were up 8%.
     Worldwide, Ikea Group's sales were up 7.1% to 27.6 billion euros (about $36.8 billion at today's exchange rates) and same-store sales increased 4.6%, the company said. It did not provide sales totals and said group percentages were adjusted for currency impact. Without the adjustment, total group sales were up 9.5%.
     Net profit for the giant Sweden- based home furnishings retailer grew 9% to 3.1 billion euros ($4.2 billion), the company said.
     While the company didn't disclose U.S. sales in dollars, an official said they accounted for 12% of global sales, which would be around $4.4 billion.
     In its past fiscal year, "We managed to grow in most markets," said Mikael Ohlsson, Ikea Group president and ceo.
     "The markets where we grew the most were China, Russia and Poland, closely followed by the United States and Germany. We opened 11 new stores and welcomed 8,000 more coworkers," he said.

Clint EngelClint Engel | Senior Retail Editor, Furniture Today
cengel@furnituretoday.com

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