IKEA Sales Increase, Helped By Growth in China and Russia

Full-year sales increase 3.1 percent

Ikea Group said full-year sales rose 3.1 percent as the flat-pack furniture retailer gained share in most markets and benefited from growth in Russia and China.

Revenue increased to 27.9 billion euros ($37.9 billion), the company said today in an e-mailed statement. Same-store sales gained 1.8 percent at the retailer, which owns the majority of the world's Ikea outlets.

"Value for money is increasingly important to our customers -- and our sales development shows that people all over the world appreciate our concept of good quality, well-designed products at low prices," Chief Executive Officer Peter Agnefjaell said in the statement.