CONSHOKEN, PA - IKEA says U.S. store sales increased 4.24% last year, with growth slowing from 6.7% reported the year prior, and 8% in 2012. But with e-commerce included - an increasingly important factor for IKEA - U.S. sales rose were up 5.38%. The U.S. is its second largest market after Germany.
Overall, IKEA saw twice the visits to its website than to its stores. There were 716 million visits to the IKEA Group stores and more than 1.5 billion visits to IKEA.com last year.
Globally, The IKEA Group net income was € 3.3 billion ($3.7 billion US) for the financial year 2014, which ended in August. Total sales increased by 5.9% € 28.7 billion. IKEA says market conditions continued to improve with strong performance in China and North America, and an upward trend in Europe. IKEA is not publicly traded but reports results to meet other regulatory requirements.
“We have an ambitious growth agenda and at the same time we’re determined to have a positive impact on people and the planet," said CEO Peter Agnefjäll in announcing the results. IKEA also earned about $600 million on rent to other businesses at shopping centers it owns. Its largest markets in terms of sales were Germany, U.S., France, Russia and the UK.
IKEA had 39 U.S. stores in 2014, and opened new ones in Miami, and Merriam, KS. Planned store openings include St Louis, MO, Fall 2015; Las Vegas, NV, Summer 2016; Memphis, TN, Fall 2016.
IKEA US made its first wind farm investment, acquiring Hoopeston Wind in Hoopeston, IL. This month IKEA adopted a "living wage" program bring stores around the country into locally based hourly pay of $10.10 or above. 33 retail locations will have an increase in their minimum wage because of this change.
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