Matthew Bronfman can mark up a successful year in retail. IKEA Israel today reported an 8% growth in sales at its Netanya store in 2009 to NIS 496 million. 64% of turnover was from furniture sales, and rest from sales of housewares and other items.
IKEA Israel CEO Shlomi Gabbai said that despite a drop in prices last year, the store's operating profit margin improved, thanks to streamlining measures in operations and logistics.
Sales at the children's department had the greatest increase in 2009, up 23%. Sales in the kitchens and dining room department rose by 10%, and sales of bedroom furniture and cabinet sets rose by 9%. On average, the price of the basket of goods purchased rose by 5%.
Bronfman-Fisher Investments Ltd. owns the IKEA Israel franchise, which is due to open its second store at Me'uyan Soreq in Rishon LeZion in March. There are also plans to eventually open a third store in Haifa.
Published by Globes [online], Israel business news - www.globes-online.com - on January 6, 2010
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