Record Ikea sales over 20 billion euros

Swedish furniture giant Ikea posted record earnings this year, but after a decade of booming expansion it now sees growth slowing, its director told financial daily Dagens Industri.

 Ikea, which has never been listed on
the stock exchange and rarely provides insight into its financial
situation, recorded sales of E21.2 billion ($37.2 billion) in its
fiscal year that ended in August.

The sales figure was the strongest
recorded for the company since it was founded in 1943 and triple the
figure from 1999. Sales for the period were up by 7 per cent from the
previous year, compared with a 14 per cent rise a year ago.

The economy is extremely weak in
several of Ikea's biggest markets, such as Germany, the US and
England. Scandinavia, Asia and eastern Europe make up a smaller
proportion of Ikea's sales, and the fact that those markets are
faring better compensates little.