Ikea sales reach £34bn per year

SWEDISH furniture giant Ikea has kept its head above the competition, with sales soaring 5pc to £33.9bn last year.

But change is afoot, as the world’s largest furniture retailer turns some of its megastores into distribution centres for home delivery. As consumer demand for out-of-town megastores has waned, Ikea has invested in its own website, city centre shops and added services such as furniture assembly. Ikea is also experimenting with new smaller stores.