€2m a week spent at Irish Ikea store

Three million shoppers beat a path to Ikea’s store in Dublin last year to spend almost €2m per week on home furnishings.

However, the sales at Ikea’s Ballymun store of best-selling items, such as Billy bookcases, Expedit storage units, and Lack tables were not enough to prevent a 56% decrease in pre-tax profits to €2.97m in the 12 months to the end of Aug 31.

Accounts filed by Ikea Ireland Ltd to the Companies Office show revenues remained flat last year, with the store recording sales of €102.69m compared to €102.82m the previous year. Lower gross margins resulted in pre-tax profits falling from €6.8m to €2.9m.