Boardroom Uncovered: Exclusive interview with IKEA’s UK chief Boardroom Uncovered Watch the first episode of City A.M's new on-camera interview series with the UK boss of retail giant IKEA.
IKEA to open new stores as UK profits more than double Retail IKEA's UK profits more than doubled during its latest financial year as it sets it sights on opening new stores.
Ikea promises to cut furniture prices as costs start to ease Retail Ikea has promised to pass on cost savings to customers by cutting prices over the next year as pressures in its supply chain start to ease. The company said that it has a “clear intention” to reduce prices this financial year, ending next August and will launch a sale at Easter for the first time. “Despite [...]
IKEA pushes back opening of Oxford Street site August 24, 2023 IKEA is pushing back the date to open its flagship store on Oxford Street, with shoppers forced to hold out an extra 12 months to buy flat pack goods on the iconic London street. Two years ago the Swedish retailer inked a £378m deal to takeover the former Topshop site, after its parent company Arcadia collapsed [...]
Flat packing in the USA: Ikea invests £1.7bn in stateside arm April 20, 2023 Ikea will invest €2bn (£1.7bn) into the US market, its biggest investment into a single market to date, as the home furnishings giant looks to capitalise on the current economic climate. The flat pack retailer said it plans to open eight new sites in the US alongside nine planning studios and order points, The Financial [...]
Ikea UK pays out £90m dividend to parent as instore sales soar January 29, 2023 Ikea reportedly paid out a £90m dividend from its UK business to its parent last year – the first in six years – as the Swedish furniture giant continues to rake in bumper profits. The dividend, reported by The Sunday Times, reflected the £62.4m profit made in 2021, a year interrupted by a series of [...]
Ikea: Sales up 13 per cent despite costs of living and inflation December 19, 2022 Ikea has revealed that sales jumped over the past year due to customers returning to its shops and price increases in the face of cost inflation. The Swedish furniture retailer revealed that total sales grew by 13 per cent to £2.2bn over the year to 31 August, compared with the same period last year. Peter [...]
IKEA owner ‘optimistic’ about future price cuts as input costs ease November 28, 2022 The owner of most IKEA stores is eyeing additional price cuts as its cost headwinds have started to let up. While the flat-pack furniture specialist hiked prices earlier this year, Ingka group’s retail manager Tolga Oncu told Reuters that he was “optimistic” the firm would be able to reduce prices even further. The furniture giant [...]
Ikea announces sale in Russia ahead of exit as staff run through store in search of a bargain July 5, 2022 People were seen running through Russian Ikea stores to grab a bargain as the retailer announced it is holding a sale before quitting the country. Footage shared online reportedly showed people sprinting through a store, while the Russian-language site for the Swedish furniture giant reportedly went down under weight of demand. The flat-packing retailer announced [...]
Ikea owner splashes out on £285m for solar parks across Europe April 6, 2022 The owner of Ikea has invested almost £285m across Europe with the purchase of nine solar park projects. Ingka Group has bought solar photovoltaic (PV) parks in Germany and Spain, from developer Enerparc, which have a combined capacity of 440 megawatt. “The expected production will be sufficient to cover all IKEA stores and warehouses in [...]