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Ikea Full-Year Sales Gain 3.1% Helped by Growth in Russia, China

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Oct. 14 (Bloomberg) -- Ikea Group said full-year sales rose 3.1 percent as the flat-pack furniture retailer gained share in most markets and benefited from growth in Russia and China.

Revenue increased to 27.9 billion euros ($37.9 billion), the company said today in an e-mailed statement. Same-store sales gained 1.8 percent at the retailer, which owns the majority of the world’s Ikea outlets.

“Value for money is increasingly important to our customers -- and our sales development shows that people all over the world appreciate our concept of good quality, well-designed products at low prices,” Chief Executive Officer Peter Agnefjaell said in the statement.

Ikea said some of the strongest growth was in Russia and China and that North America showed significant progress. Southern Europe continued to be affected by that region’s weak economy. The group, which will release its full-year report in January, said it gained market share in “almost all markets.”

To contact the reporter on this story: Katarina Gustafsson in Stockholm at kgustafsson@bloomberg.net

To contact the editor responsible for this story: Celeste Perri at cperri@bloomberg.net

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