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

  • 📰 nypost
  • ⏱ Reading Time:
  • 19 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 67%

Business News

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 91. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines