IKEA U.S. reports continued growth in 2022 and delivers first annual update on equity journey

Furniture World News Desk

IKEA U.S. released its 2022 Annual Summary, highlighting the company’s continued transformation to meet customers in new ways, while continuing to take care of people and planet. Covering the fiscal year (September 1, 2021 to August 31, 2022), the report outlines how IKEA U.S. has increased total sales despite continued global supply chain challenges and inflation.

“Our position as the leader in life at home allows us to evolve, grow and thrive. That’s why IKEA U.S. is proud of the growth we achieved this year with the support of our co-workers across the country,” said Javier Quiñones, CEO & Chief Sustainability Officer, IKEA U.S. “As we continue to embrace our vision of creating a better life for the many people, affordability continues to be a key cornerstone for us at IKEA.”

Along with the Annual Summary, IKEA U.S. is sharing details on its equity journey for the first time, highlighting data as the company continues its commitment to being an open and equitable workplace. This equity data will allow the public to track the company’s progress toward creating a more equitable workforce that is representative of the communities it serves.

Additional highlights from the FY22 Annual Summary include:

• IKEA U.S. saw a slight increase in total sales amidst rising costs and supply challenges, while continuing to keep affordability and accessibility at the center.

• Secured $5.9 billion in total sales (including food and services), as well as an 18.8 percent increase in e-commerce sales.

• Attracted 69 million visitors in stores and 494 million visits online.

• Remained committed to improving customer experience as a true omnichannel retailer by improving online shopping and adding new in-person retail locations—two new IKEA Planning Studios in Arcadia and Long Beach, California

•  Unveiled IKEA Kreativ, an AI-powered digital smartphone experience for customers to design and visualize their living spaces.

•  As a values-focused company, taking care of people continues to be a priority for IKEA U.S., beginning with co-workers.

•  Raised starting wages to a minimum of $16 per hour and provided enhanced benefits to support co-workers' livelihoods and wellbeing in January 2022.

•  Supported over 280 non-profit organizations through in-kind or cash contributions and co-worker engagement volunteering activities, totaling around $1.5 million.

•  Continued the journey towards greater equity and inclusion by publishing equity data as a first step towards transparency.

•  Enlisted strategic partners Accenture to help us benchmark and collect data across all stores and units; and Vantage Point to train more than 400 leaders on anti-racism and inclusivity.

•  IKEA U.S. continued to advance its efforts to combat the climate crisis and its mission to become climate positive by 2030.

•  Launched ultra-fast public EV charging stations at 25 locations nationwide and home solar solutions at select California stores.

•  Expanded the Buy Back & Resell service to be offered at 37 stores year-round, allowing IKEA Family members to sell back gently-used IKEA furniture, and give IKEA products a second life.

•  Hosted ONE HOME, ONE PLANET (OHOP) event with more than 70 thought leaders from across industries and sectors to ignite action and co-creation to address climate change and inequality.

View the IKEA US FY22 Annual Summary.

About IKEA: At IKEA, the vision is to create a better everyday life for the many people by offering well-designed, functional and affordable, high-quality home furnishing, produced with care for people and the environment. Ingka Group (Ingka Holding B.V. and its controlled entities) is one of 12 different groups of companies that own and operate IKEA retail under franchise agreements with Inter IKEA Systems B.V. Ingka Group has three business areas: IKEA Retail, Ingka Investments and Ingka Centres. Ingka Group is a strategic partner in the IKEA franchise system, operating 389 IKEA stores in 32 countries – including 51 retail locations in the U.S. For more information on IKEA U.S., see IIKEA-USA.com.