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IKEA reports record full-year retail sales of 41.9 billion euros By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: A showroom counter of IKEA’s 2021 catalogue can be seen at the Stockholm IKEA Store on the outskirts Stockholm, Sweden on December 5, 2020. REUTERS/Anna Ringstrom

By Anna Ringstrom

STOCKHOLM – IKEA, world’s largest furniture manufacturer, posted record sales figures on Thursday despite the disruptions to global supply chains. This is because housebound homeowners spent more time in their homes.

Franchiser Inter IKEA stated that the total sales for products and services in all IKEA stores as well as online was 41.9 billion euro ($48.7billion). That’s up 6% compared to previous fiscal years and 11% compared with pre-pandemic fiscal 2019.

According to a statement, e-commerce accounted for 26% in total retail sales for the period August to August and grew 73% over that time.

Ingka Group is the main franchisee and owns most of the stores. It also has e-commerce. Separately, it reported that its retail sales increased 6% to 37.4 Billion Euros.

Jesper Brodin (Ingka Chief Executive) stated that the levels were 2% higher than those of pre-pandemic.

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