Advertisement

Ikea's record sales lead to expansion

Author thumbnail
Ikea's record sales lead to expansion
Photo: DPA

Ikea, the Swedish furniture conglomerate, posted record sales in Germany last year and plans to open 20 additional stores in the next decade, the Wirtschaftswoche reported on Saturday.

Advertisement

The magazine said the information was conveyed to employees by the worker’s council, but the company refused to comment on its sales or expansion plans.

Given the company’s good economic situation in Germany the 14,500 workers in the country want a piece of the profit, the magazine said.

Revenues are reportedly up 6.3 percent to €3.9 billion, with a store in Hamburg posting the most sales.

The company expects €4.1 billion is sales this year. The new stores will be built in Ingolstadt, Kaiserslautern, Bremerhaven, Lübeck, Wuppertal, Darmstadt and other locations.

According to IKEA’s website, the company posted a 5 percent increase in sales in Germany in 2011 over 2010. Overall the conglomerate grew by 6.9 percent in 2011 over the previous year with total with sales of €24.7 billion.

The Local/mw

More

Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.

Please log in to leave a comment.

See Also