in the year ending August 31. “The biggest growth came from comparable stores, with new stores and online sales contributing to the positive result,” the Ikea Group said in its annual report on Thursday. Same store sales rose by 5.1 per cent. Online sales broke the one billion euros level and the company, known for its massive stores located on the outskirts of cities, has been experimenting in other ways to reach more customers. Ikea said its new “pick-up and order points make shopping with us more convenient for people who live far from a store or those who don’t have a car”. Ikea Group is now a Dutch-registered company that controls 328 stores in 28 countries and it employs 155,000 people worldwide. Ikea is still managed, however, from the town of Aelmhult in southern Sweden, where it was founded in 1943 by Ingvar Kamprad. Kamprad, whose fortune is estimated at more than 30 billion euros, still has a hand in running the company, and his children are part of the management. The rise in profits and sales coincides with yesterday’s announcement of the group’s decision to put €105 million (over AU$150 million) into the super funds of its co-workers through its loyalty programme, ‘Tack!’ “Tack is the Swedish way to say thank you and this initiative is one way we are saying thanks to co-workers for their loyalty and contribution to the success of IKEA,” said, IKEA Australia HR Manager, Richard Harries. “I am happy to announce that this year’s pay-out will give our full time co-workers at IKEA Australia a $2,321 contribution each for their super funds.” AFP Want more Inside Retail? Subscribe to Inside Retail Weekly now and get our premium print publication delivered to your door every week.