Like-for-likes up 3.6 per cent as Ikea hails “clear multichannel strategy”

The Swedish home furnishings giant said China was the fastest growing market, North America continued to perform well and while the challenging economic situation may not be over, Europe continued to do better.

Sales totalled 28.7bn in the year ending August 31, 2014, with like-for-like sales up by 3.6 per cent.

“The IKEA Group keeps growing and I am happy to see an increased growth in all our sales channels; in existing stores, in the opening of new stores and online.

“Our sales development shows that people all over the world appreciate our great home furnishing products at affordable prices”, said president and chief executive Peter Agnefjäll.

“We continue to see positive signs in consumer spending and it’s a great joy to report growth in almost all our markets, not least in the challenging markets in Southern Europe.”

The group said e-commerce showed strong growth, while the number of store visitors also increased.

“We have a clear multichannel strategy. We are becoming more accessible by continuing to improve our existing stores, by opening new stores and by expanding our e-commerce service and in-store-pick and delivery service,” said Mr Agnefjäll.

Ikea has a store in Birstall and will start work soon on a new store in Sheffield.

An IKEA spokesman told The Yorkshire Post: “We are pleased that the Secretary of State recently gave his support for Sheffield City Council’s decision to approve our planning application for a new IKEA store in Sheffield.

“We will now begin working on detailed designs for the store and with the Highways Agency to develop designs for the highways works, which need to be completed before the store can open.”