Sales rise announced by IKEA

<p>IKEA has announced its full-year sales are up.</p>

IKEA's latest financial results show the company's full-year sales are up.

Like-for-like sales rose by 1.8 per cent in the 12 months to the end of August, while global sales were up 3.1 per cent to 27.9 billion euros (£23.6 billion).

IKEA revealed that its aim is now to double sales to 50 billion euros by 2020 and the firm said in a statement: "While southern Europe continued being affected by the current economic situation, the IKEA group continued gaining market shares in almost all markets."

It was noted in the results that 690 million people visited IKEA stores around the world over the course of the 12-month period.

IKEA, which is the world's largest furniture retailer, added that Russia and China are among the areas it has performed strongly in the last year, while progress is also being made in the North American market.

The company recently announced the recall of Sniglar and Kritter junior beds due to a number of reports of breakage of the metal rod connecting the guardrail to the bed frame.

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