Popular furniture retailer Ikea has announced a rise in sales in its full year results, confirming it will still be investing in its UK business despite the Brexit vote.
Gillian Drakeford, Ikea’s UK boss, commented that there was “a lot of opportunity” for new stores in the UK despite the EU referendum result.
“We've been evaluating our newest stores and formats and yes, absolutely, there will be more stores. We will continue to invest in the UK,”
Figures show that sales rose 8.9% to £1.72 billion for the full year to 31st August, which makes it the Swedish furniture retailer’s fifth successive year of sales growth, despite this rate being a little softer in comparison to the previous year’s 11.3%.
Other figures show that market share rose 0.5% to 8.2% in the last year, whilst online business experienced a 31% increase and now accounted for 13.4% of sales.
Ms Drakeford added that despite the inevitable climate of uncertainty since the Brexit vote, "consumers continue to shop our stores", plus Ikea UK was hedged against currency movements for a "period of time" and promised to continue investing in price.
