IKEA annual sales slump 5% on weak housing market as company commits to price cuts

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IKEA annual sales slump 5% on weak housing market as company commits to price cuts
Corporate Earnings,Housing,Ikea

The Swedish home decor retailer has slashed prices and committed itself to making more price cuts in the future in an effort to win back cash-strapped customers.

IKEA annual sales slumped 5% as consumers pull back on furniture purchases amid a weak housing market, according to an

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.TD Bank fined $3B for failing to prevent money laundering by drug cartels“We are in times when dreams and needs for a better life at home are greater than ever,” Brodin said in a statement.

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