IKEA Group CEO sees full-year sales growing 8-10 percent

[June 08, 2016]  ALMHULT, Sweden (Reuters) - The head of IKEA Group, which owns most IKEA furniture stores worldwide, said on Wednesday he expected sales to grow about 8-10 percent in the company's fiscal year through end-August.

Chief Executive Peter Agnefjall also told Reuters the budget company, known for its large warehouse-like out-of-town stores and flat-packed self-assembly furniture, was on track to reach its 2020 target of 50 billion euros ($56.9 billion).

In the previous fiscal year, sales at IKEA Group, which also owns IKEA's online stores and shopping centers, were up 11.5 percent to 32.7 billion euro.

Agnefjall said in an interview he expected online sales, which last fiscal year amounted to around 1 billion euros, to grow around 40 percent this year, roughly equaling annual growth in the previous there years.

($1 = 0.8795 euros)

(Reporting by Anna Ringstrom; editing by Niklas Pollard)

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