IKEA reports record full-year retail sales of $48.7 billion, Retail News, ET Retail

IKEA reports record full-year retail sales of $48.7 billionSTOCKHOLM: IKEA, the world’s biggest furniture brand, reported record high annual retail sales on Thursday despite global supply chain disruptions as housebound consumers spent more on their homes.

Franchiser Inter IKEA said sales of products and services at all IKEA stores and online totalled 41.9 billion euros ($48.7 billion) – up 6% from the previous fiscal year and up 1% from pre-pandemic fiscal 2019.

E-commerce for the year to August grew by 73% to account for 26% of total retail sales, it said in a statement.

Main franchisee Ingka Group, which owns the bulk of stores and the e-commerce operations, said separately its retail sales rose 6% to 37.4 billion euros.

That was 2% higher than pre-pandemic levels, Ingka Chief Executive Jesper Brodin said.

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