IKEA Sales Increase, Helped By Growth in China and Russia

Ikea Group said full-year sales rose 3.1 percent as the flat-pack furniture retailer gained share in most markets and benefited from growth in Russia and China.

Revenue increased to 27.9 billion euros ($37.9 billion), the company said today in an e-mailed statement. Same-store sales gained 1.8 percent at the retailer, which owns the majority of the world's Ikea outlets.

"Value for money is increasingly important to our customers—and our sales development shows that people all over the world appreciate our concept of good quality, well-designed products at low prices," Chief Executive Officer Peter Agnefjaell said in the statement.

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