Ikea posts third consecutive annual sales decline as Inter Ikea profit falls 15%
Ikea disclosed that global currency-adjusted sales fell 0.7% to €43.8 billion in the 12 months ended August, its third consecutive annual decline. Inter Ikea Group, which owns the Ikea concept and supplies its retailers, reported a 15% drop in operating profit to €1.46 billion. The company said market conditions were tough and demand from retailers was below the previous year.