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September 14, 2016

IKEA posts record sales as e-commerce segment booms

IKEA reported on Tuesday that the group had record annual sales, besides a 30% jump in online revenues. IKEA’s sales grew after the company improved their e-commerce platforms.

IKEA Group which owns most IKEA stores worldwide, said sales in the 12 months through August rose 7% from the year before to EUR 34.2 billion ($38.4 billion). Comparable store sales were up 5%.

The Swedish furniture giant retailer has been expecting its customers to shop directly from their huge stores located out of town and also to carry the products home by themselves. Now, IKEA has started to invest in online shopping, besides new pick-up points and smaller shops. The company will thus compete with other online retailers, as Amazon, Argos or Conforama.

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