Inter IKEA Group today releases its Financial Summary for financial year 2017. IKEA retail sales increased on most markets during FY17, contributing to a strong Inter IKEA Group result through wholesale product sales to retailers, franchise fees and other income. Total revenues in FY17 amount to EUR 23 billion. The acquisition (of IKEA of Sweden AB, IKEA Supply AG and IKEA Industry AB—and their related businesses, which was completed on 31 August 2016) has had a substantial positive impact on the result.
Considerable investments were made during the year to develop the IKEA Concept and customer meeting as well as to support expansion. Together with franchisees Inter IKEA Group tested and developed new formats like city-centre stores and IKEA pick-up and order points. Significant improvements were made to the IKEA website and e-commerce capabilities to make shopping from home fun, easy and convenient.
Inter IKEA Group continues to invest in research activities and in the development of the core businesses Franchise, Range & Supply and Industry. Most importantly, the Group will continue to invest in its co-workers who contribute to realising the Group’s goals every day. IKEA retail sales are expected continue to grow in FY18, building on the development of FY17.
On December 6 the full financial report is filed with the chamber of commerce in the Netherlands. A list of Inter IKEA Group subsidiaries is also available. To retrieve a copy of these documents, send requests to Media.franchisor@inter-IKEA.com
For more stories from different parts of the IKEA world in 2017, visit IKEA Highlights 2017