Ikea Switzerland’s annual sales increased despite the crisis

Ikea Switzerland's annual sales increased despite the crisis

The Swedish giant recorded a slight increase in turnover in Switzerland for its 2019-2020 financial year despite the closure of all of its points of sale for almost two months due to semi-containment.

Ikea Switzerland's annual sales amounted to almost CHF 1.15 billion.

Ikea Switzerland’s annual sales amounted to almost CHF 1.15 billion.

Ikea Switzerland ended its 2019-2020 financial year (ended at the end of August) with a slight increase in turnover, despite the closure of all its points of sale for almost two months on the orders of the authorities to contain the coronavirus pandemic. .

Annual sales are now close to 1.15 billion francs, or 0.7% more than the previous year, the Swiss subsidiary of the Swedish furniture giant said on Thursday, which estimates the shortfall at some 110 million. by the imposed closure of stores from March 16 to May 11.

In order to make up for this delay, the company launched new distribution channels, such as a drive-in version of its Click & Collect service (collection at the point of sale of items purchased online), which was very successful, with nearly 60,000 orders made during the lockdown period, the press release said.

The share of online sales in Ikea Switzerland’s turnover jumped by almost two-thirds to 14.7% (compared to 9.1% a year earlier).

High demand

The company also reports that demand from Swiss customers has remained high since the stores reopened in mid-May, which enabled it to end its financial year delayed with increased revenues.

“We have felt how precisely in times of crisis proximity to people and their needs plays a central role,” said its managing director (CEO) Jessica Anderen, quoted in the press release.

Group-wide, Ikea’s annual turnover amounted to 35.2 billion euros, almost 15% less than in the previous financial year, a performance deemed “honorable” in view of the economic difficulties linked to the health crisis. For several weeks, 75% of the Swedish multinational’s stores had to keep their doors closed.


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