IKEA annual sales fall 2% in third straight decline as CEO targets return to growth
IKEA reported its third consecutive annual sales decline, with sales across 64 countries falling 2% to €43.8 billion in the financial year ending August 31. Inter IKEA's net profit fell to €1.4 billion from €1.5 billion a year earlier. Inter IKEA CEO Jakub Jankowski said the business needs to return to growth and aims to sell more products while becoming more affordable for families facing rising living costs.