Dive Summary:
- With the U.S. being a key driver in Ikea's successful growth with $4.1 billion this past fiscal year, the company has become the second-largest furniture retailer in the U.S. behind Ashley Furniture.
- Mike Ward, president of the U.S. division, notes that the company is still rather small in the U.S. with only 38 stores leaving room for huge growth potential.
- As in previous years, Ikea will take its profitable year and bring it back to the customers by making popular items more affordable and offering low-cost services.
From the article:
"...Since opening its first American store in 1985, the low-cost furniture seller now counts 38 stores and has become the second biggest home furnishing company in the US, behind Ashley Furniture.
Mike Ward, president of the US division, believes it’s just the beginning..."