Ikea sales, market share grow on rising furniture demand
STOCKHOLM (AP) - Buoyed by increasing demand for its popular furniture and accessories, Ikea says sales grew more that 3 per cent to 27.9 billion euros (S$47.1 billion) in the latest fiscal year.
The world's largest furniture retailer said on Monday its market share grew in most regions, including Russia and China, and that "significant progress" was made in North America.
The Sweden-based company does not release quarterly figures. It gave no more details in a brief release, saying its full report for the fiscal year ending Aug 31 would be published in January.
Ikea plans to replace its complete lighting range with eco-friendly LED lights by 2016 to help households save on energy costs.