HOME FURNISHINGS giant Ikea recorded sales of over €15.57 million in the first 36 days of operation of its Dublin store.

The average daily spend of almost €450,000 by consumers of the Swedish company’s goods at its Ballymun outlet is revealed in accounts filed at the Companies Office by Ikea Ireland Ltd.

The accounts for the year to the end of August 2009 cover only the first 36 days of operations at Ikea’s Dublin outlet. Start-up costs associated with the venture resulted in pretax losses at the company more than doubling to €8.3 million last year.

The average daily footfall of more than 15,500 people resulted in Ikea recruiting an additional 100 temporary staff to handle the volumes of customers at its 31,500sq m outlet.

Last year, some 4,000 people queued to inquire about 280 entry-level jobs at the store where 500 were employed for the outlet’s opening on July 27th last. The store contains 9,000 home furnishing products, a 550-seater restaurant, a food hall and a creche.

Ikea Ireland’s operating losses increased by 162 per cent from €2.3 million to €6 million during its 2009 financial year.

The chief factor behind the losses was administrative expenses increasing more than fourfold to €11.2 million, from €2.3 million in 2008. The company’s cost of sales last year was €10.3 million, resulting in a gross profit of €5.1 million.

Last year’s losses resulted in the company having accumulated losses of €13.5 million with a shareholders’ deficit of €8.5 million after share premium of €4.9 million was taken into account.

Ikea Ireland’s staff costs more than trebled last year from €1.4 million to €4.5 million, while the company’s land and buildings increased in value from €23.3 million to €78.5 million.

The directors concede that the company has net current liabilities of €95 million.