IKEA Shows Strength in China, Russia

The Ikea Group (Leiden, the Netherlands) reported a 3.1 percent gain in sales and a 1.8 percent increase in same-store sales for its recently completed fiscal year.

In an advanced report, the furniture retailer said its strongest growth was in Russia and China – where some other international retailers have stumbled lately – and that North America showed “significant progress.” But Southern Europe continued to be affected by that region’s weak economy.

However, according to Bloomberg News, the group said it gained market share in “almost all markets.” It will release its full-year report in January.