IKEA Canada grows retail sales to $2.17 billion in 2017
Company shares a +5.9 per cent sales uplift in its 2017 Summary Report, highlighting sustainability, co-worker growth and coast to coast expansion initiatives
BURLINGTON, ON, Nov. 21, 2017 /CNW/ - Today, IKEA Canada announced total sales of $2.17 billion in Canada for the financial year ending August 31st, 2017, an increase of +5.9 per cent on the previous year. Outlined in the company's summary report, these results continue a trend of positive growth for IKEA Canada, which has seen retail sales increase by +33.5 per cent in three years. Amid the successful year, IKEA Canada advanced its coast to coast expansion plan to double in size by 2025, all while continuing to put its customers and co-workers at the centre. Cementing its position as leader in life at home, IKEA held the number one market share place in the furniture category for the fourth year in a row, increasing by 0.2 per cent to 9.6 per cent.
"I am pleased to share another strong year of retail sales growth for IKEA Canada, where we've seen significant progress toward our goal of making the shopping experience more accessible and enjoyable for Canadian customers - no matter how or when they choose to interact with IKEA," said Marsha Smith, President, IKEA Canada. "Despite challenging economic times, we have focused on what makes IKEA unique - relevant and inspiring products at low prices that side with the many Canadians."
IKEA Canada continued to thrive as a multichannel retailer in 2017, with 95 million online visits, representing a +26.7 per cent increase in eCommerce sales. To make shopping easier across all 10 provinces, IKEA opened 12 Collection Points, broke ground on a customer distribution centre in Beauharnois, QC, and announced a third centre in Richmond, BC. The company also made considerable progress on its coast to coast expansion ambitions, building Canada's most sustainable IKEA store in Halifax and breaking ground on a new location in Quebec City, set to open in 2018. Recently, IKEA Canada also announced a new store location in London, Ontario in 2019. Finally, IKEA sustained strong in-store visitation at 28 million? a number expected to grow as the retailer experiences traffic from new stores in fiscal year 2018.
As a retail leader, IKEA gathers extensive insights to truly understand the Canadian consumer. In 2017, more than 400 home visits were conducted, allowing IKEA to present market-relevant and inspirational solutions in stores. Insights revealed two key trends that shape how Canadians live their lives at home: urbanization and technology.
Last year, more than 2,200 co-workers joined IKEA Canada, bringing the total to more than 6,300 co-workers across the country. With the ambition to be one of Canada's top employers, the company successfully implemented four-week scheduling in Fiscal Year 2017 to create a better work-life balance for co-workers. Diversity also continued to be a focus in the IKEA workplace, with a strong emphasis on gender balance - 55 per cent of IKEA co-workers and 53 per cent of managers are women.
"This year, I had the opportunity to travel across the country to meet our incredible co-workers, who continue to impress me with their passion to create a better everyday life for our customers," said Marsha Smith, who joined IKEA Canada as President in February 2017. "We truly believe that IKEA co-workers are our best ambassadors and the key to growing our business and delivering strong results."
With sustainability at the heart of IKEA's business, the retailer continued to pursue energy and resource independence with the purchase of a second wind farm in southern Alberta. The 88MW Wintering Hills project has 55 turbines that together generate enough electricity equivalent to power 54 IKEA stores. IKEA also began to outfit Burlington and Ottawa stores with rooftop solar panel installations, joining Etobicoke, Vaughan and North York stores.
IKEA strongly believes that sustainable living should be affordable for all. In Fiscal Year 2017, IKEA saw a sales increase of +7 per cent for products that enable customers to live a more sustainable life at home.
Taking the lead to create a better everyday life for the people and communities in which it operates, IKEA newly partnered with Breakfast Club of Canada to support childhood development and ensure children across Canada have access to a healthy morning meal. The retailer also continued its partnership with Tree Canada; planting over 30,000 trees and shrubs in the span of 21 years.
Amid a year of growth, IKEA took time to look back, marking its 40th anniversary in Canada in Fiscal Year 2017. To celebrate, the company hosted the Then & Now Exhibit at Toronto's Design Exchange, sharing IKEA's journey as a leader in life at home throughout the decades.
Click here to read the IKEA Canada Summary Report. http://www.ikea.com/ms/en_CA/pdf/yearly_summary/IKEA_Summary_Report_FY17.pdf
ABOUT IKEA CANADA
IKEA Group is a leading home furnishing retailer with 357 stores in more than 29 countries worldwide, which are visited by 817 million people every year. IKEA Canada has 13 stores, an eCommerce virtual store, six Pick-up and order points and 13 Collection Points. The company also announced plans to open new stores in Quebec City and London, Ontario. Last year, IKEA Canada welcomed 28 million visitors to its stores and 95 million visitors to the IKEA.ca website. Founded in 1943, IKEA's business philosophy is to offer a wide range of products of good design and function at prices so low, the majority of people can afford them. For more information on IKEA Canada, please visit: www.IKEA.ca.
SOURCE IKEA Canada
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