Reuters
Main IKEA retailer’s profits jump despite ‘unprecedented challenges’
Despite more temporary store closures due to pandemic related restrictions than the year before, and product shortages due to the global supply chain crisis, operating profit in the 12 months through August was up 31% at 1.9 billion euros. Sales were up 6%, to above pre-pandemic levels, with online sales jumping to account for 30% of total sales, against 18% the year before. Compared to the pre-pandemic fiscal 2019, profit was still down, by 8%, due to high investment levels.
