Ikea full-year sales fall cushioned by strong online growth

IKEA

Ikea has reported a decline in full-year sales across its UK business, but boss Peter Jelkeby praised the retailer’s accelerated transformation.

Ikea reported a 10% drop in sales to £1.9bn in the year to August 31 as store visitor numbers fell 22% year on year to 44 million due to coronavirus lockdowns.

The homeware giant’s online sales climbed 30% year on year and represented 27% of total sales during the period, up from 19% the previous year.

Visitor numbers to Ikea’s website also rose 16% year on year to 260 million. 

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