Revenues at IKEA’s UK business grew by 12 per cent last year to £2.46bn, with visits to its 22 UK stores up by 2.2 per cent and online orders rising by 24 per cent over the previous year. The online channel was attributed with 35.5 per cent of all sales during the year, with click & collect also proving to be very popular amongst customers. Profits for the year to 31st August ’23 rose to £111m as against the £49.6m earned in the prior year.
CEO UK & Ireland Peter Jelkeby said: “In our 80th year, we can be proud of our performance. FY23 was a year in which we improved our customer experience, grew our market share and continued making meaningful investments in our business and people.
“Despite a difficult economic climate, our focus remains on new locations, new store formats, and in new services. Having overcome challenges posed by Brexit & Covid, we have since focused on creating a more efficient organisation and improving our profitability, which gives us the financial strength to continue investing for generations to come.”
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