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Meatball mania: Ikea's UK sales have been growing for six years

City AM logo City AM 14/11/2017 Helen Cahill
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(Provided by Real Simple)

Britain's passion for meatballs and flat-packed furniture has fuelled another year of sales growth for Ikea.

The figures

For the year ended 31 August, Ikea's sales in the UK rose 5.8 per cent to £1.8bn, the sixth consecutive year of sales growth for the firm.

Over the six-year period sales have jumped 57 per cent.

The Swedish homeware giant, which has now been in the UK for 30 years, increased its market share by 0.5 per cent in the financial year.

Why it's interesting

Ikea is expanding across the UK, and . Next year, the furniture retailer intends to open stores in Exeter and Greenwich, creating a further 850 jobs.

Ikea has invested an extra £4m in its workforce over the financial year due to its new intake of employees, and the company's commitment to paying the rate of pay set by the Living Wage Foundation.

What Ikea said

Gillian Drakeford, Ikea UK country retail manager, said: "We have ambitious expansion plans for the UK and are committed to making Ikea more accessible to many people. As well as opening new stores, we are also enhancing existing stores.

"Half way through the year we refurbished all living room departments in preparation for this year's "Make Room for Life" campaign and we are already seeing a great response to this."

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