IKEA eyes return to growth as it moves away from big stores towards online sales

Online sales account for 15% of all IKEA sales

ngka Group, the main IKEA franchisee, said separately that sales at its 378 stores shrank 4% in the fiscal year to €35.2 billion, with online sales soaring 60% to make up 18% of its total turnover.

Retail sales at IKEA, the world's biggest furniture group, shrank 4% in the year to the end of August as demand recovered quickly from a slump caused by COVID-19, brand owner and franchisor Inter IKEA said on Tuesday.

Retail sales, of products and services at all 445 IKEA stores and online, came in at €39.6 billion.