March 11, 2010
Ikea sales reach all-time high
Published: 10 Sep 08 06:50 CET
Online: http://www.thelocal.se/14234/20080910/
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Sales by Swedish home furnishings giant Ikea continue to grow despite the weakening global economy.
- 'Sweden is a tax paradise': Ikea adviser (1 Mar 10)
- Ikea forecasts 'flat' profits for 2010 (22 Feb 10)
- Ikea founder 'cried like a baby' over Russian bribery scandal (19 Feb 10)
According to CEO Anders Dahlvig, achieving the all-time high at a time of weak economic growth was due in part to newly opened stores in Europe, the United States, China, and Russia.
Since 1999 the company’s sales have nearly tripled, although the rate of increase has slowed somewhat.
The previous year’s increase of 14 percent was cut in half to 7 percent, writes DI.
Ikea is preparing for a period of lower growth for the next several years and plans to slow down the rate of new-store expansion from 2010.
Due to competitive concerns, Ikea never releases information about the actual size of its profits.
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