Ikea Canada reported on Tuesday retail sales of $2.17 billion in Canada for the financial year ending August 31, up 5.9 percent from the previous year.
Marking its 40th anniversary in Canada in Fiscal Year 2017, the furniture retailer has seen retail sales increase by 33.5 percent over the last three years largely due to a greater store count and better online presence.
The budget furniture retailer’s strategy has been focused on making shopping easier for Canadian customers and continued to move forward in 2017 with its coast to coast expansion plan to double in size in the country by 2025.
Ikea opened 12 Collection Points across all 10 provinces, a customer distribution centre in Beauharnois, QC, and announced a third centre in Richmond, BC, in 2017. The company is also set to open a new location in Quebec City, in 2018, as well as a new store location in London, Ontario in 2019.
In 2017, Ikea Canada had 28 million in-store visits, while online visitations also soared to 95 million online visits, representing a 26.7 percent increase in eCommerce sales.
“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, in a news statement. “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 ended Fiscal 2017 with 13 stores, an eCommerce store, six Pick-up and order points and 13 Collection Points. Marsha Smith was appointed as President of Ikea Canada in January.