IKEA Group sales up 11.2%

IKEA Group has posted an 11.2% lift in total sales to €31.9 billion for the financial year 2015. Together with the rental income from its shopping centre business, total revenue rose 11.5% to € 32.7 billion.

The Swedish housewares and furniture retailer said most of the growth came from comparable stores, although new stores and online expansion ‘contributed substantially’ to the result.

While the growth was well distributed across most markets, Germany showed record growth and IKEA’s newest market of South Korea performed above expectations.

IKEA Group president and ceo Peter Agnefjäll commented: “We have a great year behind us and have invested considerably in sustainability, in creating a better offer, and in being more accessible.”

He said the growth will enable IKEA Group to “continue to strengthen its core business in existing IKEA stores, and also in new ways of meeting customers online, through new store formats, and at ‘pick up and order’ points. Continued investments will also be made in renewable energy and in products for a sustainable life at home.”

He added: “In the past year, I’m particularly proud that we sold more than 90 million LED bulbs and lamps, not only enabling millions of households to cut their energy bills, but also bringing significant energy savings.”

During the year, Ikea set aside €105 million for its Tack! loyalty programme as a token of appreciation to co-workers. Since Tack! was introduced two years ago, a total of €305 million has been allocated.

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