Ikea focus online with no more store plans

Ikea says its store in Ballymun in Dublin posted a 12% increase in sales in its latest financial year and will focus on online investments as it tapped a huge growth in its online sales.

Sales at the Ikea Ireland firm reached €203m in the 12 months to the end of August, the retailer said in a statement, which gave no details of its earnings for the same period.

The company said it has secured a share of just under 12% of the home furnishings market in Ireland.

Ikea operates another store in Belfast under its UK operations. It has again ruled out any plans to open a third store “in the near future” in Ireland or to open a new collection point.

The online sales have been boosted significantly by its so-called order and collection point in Carrickmines in Dublin and the company plans to continue to invest heavily in its shop online operations.

“This means Ikea Ireland will focus future investment on developing its flagship store in Ballymun, the order and collection point in Carrickmines, and its shop online service, in order to make Ikea products more accessible to people throughout Ireland,” the company said.

“Ikea has no plans to open any additional stores in Ireland at present,” it said.

It employs 700 staff in Dublin.

Ikea Ireland said that visits to its website increased by one million to 18 million in the latest financial year.

“Investment in our digital platform is paying off and continues to exceed our expectations, with a significant increase in online sales this year, now representing 16% of total sales in Ireland,” said UK and Ireland country manager Peter Jelkeby.