IKEA Belgium reports record turnover of 1.2bn euros, despite 'challenging start'

IKEA Belgium achieved a record turnover of 1.208 billion euros in its interrupted financial year 2023, from 1 September 2022 to 31 August 2023. This is up 16 per cent on the previous year, CEO André Schmidtgall announced on Thursday.

According to Schmidtgall, the last fiscal year had a challenging start due to sky-high inflation and high energy prices. "As a result, operating costs rose sharply and consumer confidence fell," he said. "Nevertheless, we managed to combine strong sales growth with a lower carbon footprint." The latter fell by 28 per cent in fiscal year 2023.

In addition, IKEA's sales via Click & Collect in Belgium almost doubled (+97 per cent) in the last financial year. Click & Collect enables customers to order online and then pick up their purchases in a store or at a parcel collection point. Kitchen sales increased by 12 per cent and food sales by 29 per cent.

IKEA has been operating in Belgium since 1984 and has stores in Anderlecht, Arlon, Ghent, Liège, Wilrijk, Zaventem, Hasselt and Mons. IKEA Belgium has almost 4,500 employees. The company plans to invest an additional 30 million euros in its Belgian stores during the coming financial year.



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