IKEA Hungary Sales Climb 4%

Sales in Hungary of Swedish home furnishings giant IKEA rose 4.4% to HUF 144 billion in its business year ended August 31, IKEA Hungary said in a statement.

According to the assessment, the key to the year's success was continuous price reductions. The company has provided customers with a total of 6.5 billion forints in price reductions over the past two years, which represents an average price drop of 17.5% for more than 2,200 products.

Online sales accounted for 25% of turnover, higher than a year earlier. Around 8.2 million shoppers visited IKEA's three stores in Hungary during the period.

IKEA Hungary has over 1,650 employees and spent HUF 500 million on wage raises and bonuses during the business year.