Ingka Group, the owner of Ikea, has reported an increase in sales and hailed the success of its business transformation plan, which has seen it invest in new regions, home delivery networks and digital.
The Swedish homewares retailer reported a 5% increase in sales to €36.7bn (£32.4bn) for its 2019 financial year, in what it described as a “fast-changing retail environment”.
The retailer reported that its online sales jumped by 46%, which saw it amount to 11% of total sales in the financial year.
Ikea stores saw more than 839 million visits around the world, while visits to Ikea.com increased 10% to nearly 2.6 billion.
The retailer opened seven of its “traditional” big box stores, 11 of its smaller stores and planning studios in major cities like Moscow, New York, Paris and London.
It said plans are underway for further stores in Copenhagen, Shanghai and Tokyo, among others.
Ingka said it would be “investing across the company to drive its retail transformation, including new solutions to improve the customer experience”.
Ikea said it had also “has accelerated its investments in renewable energy and will generate as much renewable energy as it consumes in its operations, exceeding its 2020 target”.
Jesper Brodin, chief executive of Ingka Group, said: “We have had a really positive year. While going through one of the biggest transformations in our history, we’ve maintained strong performance across our business, thanks to all the amazing colleagues across the Ikea world, who continue to show leadership and entrepreneurship every day.
“We have a simple yet powerful vision, to create a better everyday life for the many people, that we all want to deliver to, which is truly visible this year.”
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