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IKEA CEO says sales grew 7 pct in 2011/12
September 17, 2012 / 3:27 PM / 5 years ago

IKEA CEO says sales grew 7 pct in 2011/12

STOCKHOLM, Sept 17 (Reuters) - Turnover at IKEA, the world’s largest furniture retailer, increased about 7 percent in the fiscal year 2011/12 that ended on Aug. 31, Chief Executive Mikael Ohlsson said on Monday.

In 2010/11, sales were up 6.9 percent to a record 25.17 billion euros.

“It looks like we had a good year. We gained shares in all markets,” Ohlsson told Reuters.

Swedish IKEA, famous for its self-build flat packs and huge stores, announced earlier on Monday that Ohlsson, chief executive since 2009, would leave the company in September next year and be replaced by current Sweden boss Peter Agnefjall.

Agnefjall told Reuters that IKEA would from 2014-2015 increase the pace of new store openings to 20-25 per year, mainly in existing markets. In 2010/2011, IKEA opened seven stores.

“We will do a number of things to boost growth even more,” he said. (Reporting by Anna Ringstrom)

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