HELSINGBORG, SWEDEN -- IKEA, the worldâs largest home furnishings retailer, racked up approximately $3.9 billion in profits last year on $29.3 billion in sales.
The company reported that its net profit increased by 6.1% over 2009.
The company said sales at its U.S. stores increased about 5% in 2010.
"FY10 was a good year financially for us â sales grew despite tough market conditions in many countries, said IKEA Group President and CEO Mikael Ohlsson. "Profits give us the resources to grow and reach more people on existing and new markets as well as lowering our prices. The main part of the profit was re-invested in existing as well as twelve new stores in order to become even more inspiring and accessible."
IKEA said it doubled the amount of solar panels installed on IKEA locations around the world, including its Tempe, AZ, store, and plans to add solar panels to 10 other U.S. stores this year.
A new store set to open in Centennial, CO, will be the first to have a geothermal component as part of its HVAC system.
Also in 2010, the IKEA The company also said it donated about $64.8 million to charitable group last year, especially those that benefit children.
Read more about IKEA's 2010 financial results.
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