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Ikea doling out $54M in bonus pay

Photo: ManuPadilla - stock.adobe.com

December 4, 2023

Ikea plans to deliver $54.5 million in bonus payouts to workers given a record-high sales year.

The retailer hit $6.3 billion in total sales of good and services, reflecting a 6.6% growth in revenue from the previous fiscal year, according to a press release. Its e-commerce growth was up by 3.3% and online visitation increased by 6.3% compared to last year.

"We are proud to share the success of another strong sales year with our co-workers and customers. When times are tough, we view it as our responsibility to provide quality and affordable home furnishing solutions and services that make everyday life at home a little easier," Javier Quiñones, CEO and chief sustainability officer, Ikea U.S., said in the release. "Lowering prices is not just a promotion, it is our promise to our customers. Our priority is to remain as affordable as possible and continue reducing prices whenever we can to ensure that our products are accessible to all and that dream homes are within reach for the many."

In April Ikea U.S. announced it was investing $2.2 billion to grow its presence in the U.S. Since then, Ikea has opened new locations in San Francisco, California, Arlington, Virginia, and Southlake, Texas, and 20-plus Pick-up points across various locations, in addition to announcing new store formats coming to Fairfax, Virginia, Gaithersburg, Maryland, and Katy, Texas.