IKEA annual sales slump, commits to price cuts amid weak housing market

IKEA annual sales have slumped as consumers pull back on furniture purchases amid a weak housing market, according to an earnings report.

“In all our markets we experienced a slowdown of the economy and a slowdown of the home furnishing industry, almost simultaneously,” Ingka Group CEO Jesper Brodin said.IKEA started cutting prices after seeing a drop in store visits and sold quantities. The more affordable prices improved store traffic and the amount of products sold, Brodin said.

The company expects to see a boost in sales next year thanks to lower interest rates in countries around the world.

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Market power of retailers like Ikea, Bunnings and Petstock being scrutinised by Senate inquiryBunnings is Australia's most trusted brand. But allegations the hardware chain has been abusing its market power have prompted a Senate inquiry, that is set to scrutinise the market power of many large format retailers.
مصدر: abcnews - 🏆 5. / 83 اقرأ أكثر »