Ikea Ireland sales rebound to €191m but still to recover fully to pre-Covid levels 

Ikea Ireland sold more goods online than in-store for the first time

On reopening after Covid, the Ikea store in Ballymun in Dublin was "the highest performing" of the group’s 378 stores, Ikea said. 

Revenues at the Irish arm of Ikea rose to €191m, but are still short of pre-Covid-19 levels, as the retailer sold more goods online than in-store for the first time.

In "a pivotal year", Ikea Ireland posted profits of €3.7m in the 12 months to the end of August. The directors said in the accounts that “the business became more profitable, despite the challenges of 2021, with its sustained store closures and ongoing economic uncertainty”.

The accounts relate mainly to the store in Ballymun in Dublin which was shut for a time from the end of 2020 because of the Covid restrictions. On reopening, the store was "the highest performing" of the group’s 378 stores, it said. 

Online sales more than doubled to over €99.25m, or 52% of total sales, compared with a share of 24% in its 2020 financial year, and the 16% share posted before the onset of the pandemic in 2019.

The company said it had advanced projects such as click-and-collect. The unit paid a dividend to the group owners of €3m, down from €5m a year earlier, and posted a net profit of €3.23m after paying corporation tax of €522,274. It employed 699 people last year.  

Ikea Ireland in recent months opened home service centres in Naas and in St Stephen’s Green Shopping Centre in Dublin. Ikea says it is the largest furniture seller in the Republic, with a market share of 11.7%. Ikea separately operates a second large store in Belfast.