IKEA's September sales up 20%, unhindered by crisis

Furniture and interior decorations retailer IKEA posted 20% higher sales in September this year, compared with September 2007, while the company has budgeted a 10% growth for the whole fiscal year (September 2008 – August 2009). In September, the main consumption-oriented businesses are expected to have felt the international financial crisis, amid a restricted access to financing, and part of consumer goods acquisitions have been put off. “The increasing number of visitors and of articles sold led to a 30% sales increase in September 2008 against September 2007. This brings us to the conclusion that we are on the right track and we have to continue in the same direction,” said Cornel Oprisan, retailer manager of IKEA Romania, who did not specify the value of sales recorded in September. IKEA posted sales worth 99.4 million euros in the September 2007-August 2008 period, 24% above initial estimates.