Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Ikea's record sales lead to expansion

Share this article

Ikea's record sales lead to expansion
Photo: DPA
13:13 CET+01:00
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.

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

Get notified about breaking news on The Local

Share this article

The Local is not responsible for content posted by users.
Become a Member or sign-in to leave a comment.

From our sponsors

Change the world with a master's degree from Sweden's Linköping University

Master's students at world-leading Linköping University (LiU) aren't there simply to study. They solve real-world problems alongside experts in fields that can create a better tomorrow. Do you have what it takes to join them?

Advertisement