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IKEA annual sales slump 5% on weak housing market

IKEA said its annual sales fell 5% as consumers cut back on furniture purchases due to the housing market downturn. earnings report It was released on Thursday. A Swedish home decor retailer has slashed prices and promised further reductions in the future in a bid to win back cash-strapped customers. Inka Group, which owns most […]

Big deal to bring Ikea to empty Midtown lot raises bigger questions

The big news is that Sweden’s Ingka Investments, which owns most of the IKEA stores, has formed a “strategic partnership” with Extell on the 1 million-square-foot mixed-use tower it’s planning for 570 Fifth Avenue. Developer Gary Barnett has long been planning to build a new large skyscraper on the prized Midtown site. According to Bloomberg, […]

Ikea makes bold promise to continue price cuts in US — here’s why

Swedish furniture giant IKEA plans to continue lowering prices in the United States as inflation pressures ease. IKEA recently reduced prices on hundreds of items and promised to “continue to reduce prices in the U.S. in the coming months,” the company said in a statement to FOX Business.Product added “New Low Prices” section of the […]