Ikea sales leaping despite big-ticket slump

Flat-pack furniture giant Ikea has delivered its best sales growth in the UK for six years, despite the market for big-ticket items remaining in the doldrums. Ikea increased revenues by 6.3 per cent to £1.23bn over the year to August 31, with its underlying sales up by the same amount. The Swedish company, which has 18 UK stores, grew its UK market share by 0.4 per cent to 6.8 per cent, according to Verdict Research, despite revenues in the home furnishing sector falling by 2.2 per cent.