Ikea sees sales, market share grow further

Buoyed by increasing demand for its popular furniture and accessories, Ikea says sales grew more that 3 percent to $38 billion in the latest fiscal year.

The world's largest furniture retailer said Monday that market share grew in most regions, including Russia and China, and that "significant progress" was made in North America.

The Sweden-based company does not release quarterly figures. It gave no more details in a brief release on Monday, saying its full report for the fiscal year ending Aug. 31 will be published in January.

Ikea says that by 2016 it plans to replace its complete lighting range with eco-friendly LED lights to help households save on energy costs.

Ikea has 338 stores employing some 154,000 people in more than 40 countries.