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November 8, 2021

IKEA warns of imminent price increases

IKEA warns of imminent price increases
IKEA has warned of imminent price increases, as it revealed its financial results for FY21 (to 31st August 2021).    The group states that economic recovery continued during the financial year, but that business remains "extremely challenging". More than 150 IKEA stores were closed due to local lockdowns, resulting in lower store sales – yet ecommerce sales grew +73%, and IKEA franchisees’ total retail sales reached €41.9b (+5.8% YoY). FY21 sales also surpassed FY19's (€41.3b).    The pandemic also disrupted global transport, even as demand went up. As a result, many ...

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