IKEA founder clarifies position on growth plans

01/29/2013 | Wall Street Journal, The

IKEA founder Ingvar Kamprad said Tuesday that, while he believes the retailer's plan to open up to 25 new stores per year may be too ambitious, he's in agreement with management and the board on the goal to increase sales by 10% annually. Kamprad, who founded the Swedish furniture brand 70 years ago at age 17, made his comments to dispel Swedish media reports that hinted at deepening disagreements at the top of the company.

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