CONSHOHOCKEN, PA--(Marketwired - September 13, 2016) -
For FY2016, IKEA Group total sales amounted to $37.6 billion (EUR 34.2 billion). Total sales translated into Euro increased by 7.1%. Adjusted for currency impact, total sales increased by +7.9%. Sales in comparable stores grew by 4.8%.
"IKEA Group had another good year and welcomed 783 million visits to our stores. In all of our meetings with the customers, we want to provide good quality products and inspiration for creating beautiful homes. Last year's focus on the theme 'It starts with the Food', covering kitchen, cooking, eating, and the food-business, was a strong success and appreciated by the customers," says Peter Agnefjäll, President and CEO of IKEA Group.
China remains one of the fastest growing markets for IKEA Group, together with Australia, Canada and Poland. Germany, retained its position as the largest market, closely followed by the US, and showed another year of record growth. Expansion also continued at pace and plans are on track to open the first stores in India and Serbia during the coming year.
On a journey to become the world's leading multichannel home furnishing retailer, IKEA Group is increasing its focus on integrating physical and digital commerce to enable customers to shop in ways that suits their needs. In addition, IKEA Group opened 12 new stores, and 19 Pick up and Order points during the last year, an effort that will be supported by developments of a flexible distribution network, ensuring accessibility and convenience for customers.
IKEA Group continues to work towards having a positive impact on people and the planet by motivating customers and co-workers to lead a more sustainable life at home. In FY16, a 15% growth in LED bulbs sold is in line with the ambition to, until the end of 2020, sell over 500 million LED bulbs to IKEA customers. Switching to LED light bulbs will save money as well as energy as they can last up to 20 years, and use up to 85% less energy than traditional incandescent bulbs.
"In the coming year we will put even more effort in providing a great IKEA-experience for visitors across all channels. These efforts are only made possible by the engaged co-workers who have, as always, done an amazing job during the year," concludes Peter Agnefjäll.
The IKEA Group Yearly Summary, which gives a full account of the performance for the year, as well as the IKEA Group Sustainability Report, will be published in December 2016. FY16 = Financial year 2016 encompasses the period between September 1, 2015 to August 31, 2016.
*Dollar to Euro August 2016 was $1.1 US to 1 EUR
About IKEA Group
The IKEA vision is to create a better everyday life for the many people and we offer well designed, functional and affordable, high quality home furnishing, produced with care for people and the environment. The IKEA Group operates 340 stores in 28 countries under franchise agreements with Inter IKEA Systems B.V. In addition there are more than 40 stores run by other franchisees. The IKEA Group had 783 million visits during FY16 and more than 2.1 billion people visited www.IKEA.com