ikea building
Photo by Alexander Isreb on Pexels.com

Swedish furniture giant Ikea said Thursday it was counting on price drops launched in September to stem two years of falling sales volumes attributed to soaring inflation.

The company reported Thursday a 6.6 per cent rise in sales for the full-year to 47.6 billion euros ($50.2 billion).

"This positive result was achieved despite the continued challenge of lower sales quantities," Inter Ikea said in a statement.

The company announced a rare price increase on all markets, of an average nine per cent, in December 2021 due to inflation.

Register to read the full article.

Register for free for:

  • Access to ten free articles per month
  • Our weekly roundup of top stories
  • Monthly newsletters on topics of your choice

Subscribe for:

  • Unlimited article access each month
  • Crosswords and puzzles on Canadian holidays
  • Full newsletter access