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, […]
Gay couple arrested for possession of child pornography after getting flagged by IKEA, Maryland police say
Neighbors of a same-sex couple in Maryland were shocked to learn they had been arrested for possessing child pornography after receiving a tip from Ikea. Robert Scherer, 41, and Robert Books, 54. arrested on wednesday after police received a tip that Scherer was suspected of downloading child pornography onto his work computer. He worked as […]
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 […]
Annie Leibovitz joins up with Ikea for ‘dream project’ about family life | Annie Leibovitz
SHe’s a photographer of stars whose portraits have graced the covers of luxury magazines from Vogue to Vanity Fair, so when Annie Leibovitz announced that her latest collaboration would be with IKEA , I see, there was a lot to figure out. Leibovitz, who was approached by the company during the pandemic, described the role […]