Speed Reads


IKEA's fastest-growing market is in China

IKEA is the largest furniture retailer in the world, and its sales are continuing to grow — especially in China.

IKEA Group released a statement about its fiscal year through August 31, and the Swedish company revealed that China is its fastest-growing market. IKEA saw a 5.9 percent rise in sales in the 2013-2014 fiscal year, with sales up 5.9 percent to 28.7 billion euros ($37 billion) and sales in comparable stores up 3.6 percent.

IKEA's chief executive Peter Agnefjall told The Associated Press that the company will "continue to see positive signs in consumer spending" and has "great opportunities for continued growth." And while China is the fastest-growing, IKEA's sales in the U.S. and Europe are doing well, too — the U.S., Germany, and France are still IKEA's biggest markets.