Ikea Comps Up 4.8% In Fiscal Year

Ikea continues to grow both in the U.S. and internationally, posting a rise in comparable store sales while working to integrate more physical and digital commerce synergies.

For its 2016 fiscal year, Ikea Group total sales were $37.6 billion, or Euro 34.2 billion, the company announced, up by 7.1%. Adjusted for the impact of currency fluctuations, total sales increased by 7.9%. Sales in comparable stores increased 4.8%.

Germany remained the company’s largest market as sales there continued to expand through the course of fiscal 2016, according to Ikea, closely followed by the United States. The company added that China remains one of its fastest growing markets, with Australia, Canada and Poland also among the stronger performing territories.

Ikea asserted that plans to open its first stores in India and Serbia during the coming year remain on track. The company also opened 12 new stores in the 2016 fiscal year as well as 19 pick up and order points, moves supporting its development of a flexible distribution network.

In addition, Ikea indicated that it is sharpening a focus on integrating physical and digital commerce to enable customers to shop in ways that suits their preferences.

“Ikea Group had another good year and welcomed 783 million visits to our stores. In all of our meetings with 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 customers,” said Peter Agnefjäll, president and CEO of Ikea Group.

The Ikea Group operates 340 stores in 28 countries.