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IKEA full year sales up 5.9%

Home furnishings retailer IKEA has increased its UK full year sales by 5.9% to £1.965 billion as it continues to invest in its stores and operations…. View Article

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IKEA full year sales up 5.9%

Home furnishings retailer IKEA has increased its UK full year sales by 5.9% to £1.965 billion as it continues to invest in its stores and operations.

In the year to 31 August, IKEA opened two new stores in Sheffield and Exeter and will open a further shop in Greenwich next spring. The year also saw IKEA launch its new Planning Studio city centre format on London’s Tottenham Court Road.

In addition, the retailer invested in its distribution and fulfilment network in the period with the opening of two new customer delivery centres and a London parcel unit.

IKEA said there were 59.8 million visitors to its UK stores in the year, which marked an increase of 4.5%. Furthermore, visits to its website climbed by 13.4% to 199.3 million as online sales grew by 14.4% and now represent 15.5% of total sales.

Javier Quiñones, country retail manager at IKEA UK, said the year had been positive for IKEA with products remaining a key growth driver.

He added: “However, we know that the role of the store is changing. People want to shop in a number of different ways and count on brands to offer them services that reflect the way they live. That’s why we are focused on providing a seamless shopping experience and want to give our customers the choices they expect, no matter how they choose to shop with us.”

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