IKEA grows 12% on a downward market

In euro, the company’s business could register a slight decline or stagnation. In the previous fiscal year, IKEA posted net sales worth €99.4 million, value-added tax (VAT) included.

“We had initially forecast a 12 percent increase in euro, but we realized that this forecast was not realistic, considering that sales are effected in lei,” the retailer’s General Manager, Cornel Oprişan, said during the conference for the launch of the new IKEA catalogue.

He indicated that the effects of the crisis were felt in the first months of this year, especially in January and February, when the poorest sales were registered. “The proportion of accessory and furniture sales has not changed in three years, but now people are more interested in the benefits of shopping. As of March, the interests of buyers have changed; they are much more careful with their money; they do not take separate items, but rather complete solutions, so that the value of receipts has increased,” Oprişan said.

The value of the local furniture and decoration market nears €2 billion, of which the furniture market is worth €1.3 bln. Major local players are Mobexpert, Elvila, and Italsofa.