IKEA pledges to open new Irish stores 'in the near future' as profits soar

The chain has been in operation in the Irish market since 2009 and currently employs 700 people.

Swedish furniture chain IKEA has announced it intends to open more stores "in the near future" as the company announces bumper profits in the financial year to August.

The chain has been in operation in the Irish market since 2009 and currently employs 700 people.

UK and Ireland Deputy CEO Marsha Smith reports a 16% sales jump to €252 million in that period, representing a "slightly better" than expected performance in the Irish market.

Smith admitted that much of the boost in sales was sustained by the company's click and collect services in smaller towns where it has Plan and Order points in Naas, Cork and Drogheda, as well as in Dublin's St Stephen Green.

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She told Newstalk's Irish Business Breakfast: "We knew that we were having quite a good year, we could see that there was a good take-up of some of the new services, a lot of interest in the new Plan and Order points that we have around the country."

IKEA pledges to open two more stores "in the near future," number which Smith says will eventually rise to twelve around the country.

At present, it has two megastores on the island of Ireland: one in Ballymun on Dublin's Northside and one in Belfast.

"We would love to increase that number," according to Smith.

"There’s always lots going on in the background; I think we’re a very responsible company in that we really sort of take our time.

"We do a lot of research, we look into where can we be sure people will come to and also that it’s a good business proposition."

She commended the "incredible" staff working on the ground in IKEA megastores and Plan and Order points in Ireland, adding that the Dublin megastore received 3.2 million visitors in 2022.

"We want to make sure that we make the right decisions with where we go.

"But hopefully, [there will be] some new [stores] soon."

The company also plans to create 120 new jobs when it opens its first Irish customer distribution centre at Greenogue Logistics Park in Rathcoole in southwest Dublin in early 2024.

The site's acquisition is forecast to cut furniture delivery lead times in half following the acquisition.

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