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Gloucestershire Business News

Ikea’s UK sales top £1.8 billion

Everyone's favourite flatpack furniture store saw UK sales rise to £1.814bn in the UK.

Figures for the financial year ending 31 August 2017 at the Swedish retailer were up 5.8 per cent on the previous year, making it six consecutive years of UK growth.

Market share was up 0.5%, bringing the retailer one step closer to its ambition of increasing overall market share to 15% by 2027, as reported by the BBC.

Ikea is celebrating its 30th anniversary in the UK this year. It continues to expand and recently opened stories in Reading and Sheffield, with plans to open stores in Exeter and Greenwich over the next year.

The company launched a new website during the last financial year and online sales now account for 15% of total sales. It also acquired TaskRabbit, an online service connecting customers to local handymen for everything from small repairs to cleaning to assembling flatpack furniture.

1,000 new jobs were created at Ikea during the year, taking figures up to 10,900. A further 850 jobs are expected to be created when the two new stores open.

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