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FY16 UK sales up 8.5% at home furnishings retailer Ikea
02
Dec '16
For the twelve months to August 31, 2016, sales at home furnishing retailer Ikea totalled £1.72 billion in the UK, up 8.9 per cent over the prior fiscal, thereby recording the fifth consecutive fiscal of sales growth. The home furnishings retailer also strengthened its market share by a further 0.5 per cent to 8.2 per cent in the country.

Online sales also surged 31 per cent in fiscal 2016, following a double digit growth in the earlier fiscal, while footfalls in its stores also increased 3 per cent year on year in the fiscal under review.

According to Ikea, the growth in both sales and market share will help it meet its goal of doubling the size of the UK business by 2020.

In the reporting period, the retailer IKEA also trialled a new format in the UK and opened four 'Order and Collection' Points.

“As part of our ambition to become a truly multichannel retailer, we launched a new website to provide an improved online experience for our customers as well as further connecting the online and offline channels”, UK retail manager Gillian Drakeford said.

“Our stores and website have a different, although integrated, role to play. Our customers are increasingly using both channels to complete their purchasing journey so we've focused on ensuring this experience is as seamless as possible,” he added. (AR)

Fibre2Fashion News Desk – India


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