Ikea boosts profit, sales despite economic crisis
Photo credit: Newsday File / Bill Davis | An undated photo of the Ikea store at the Broadway Mall in Hicksville. Ikea's chief executive Mikael Ohlsson said sales growth had accelerated since September 2011, even as the debt crisis in Europe pummeled markets around the globe.
Ikea says its profit jumped 10.3 percent last year as the Swedish furniture retailer increased sales despite economic uncertainty in some of its key markets.
Ikea said Friday it made a net profit of $3.81 billion, 2.97 billion euro, in the year ended Aug. 31, while revenue grew 6.9 percent to 25.17 billion euro.
Chief executive Mikael Ohlsson said sales growth had accelerated since September,...
