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Ikea's top line took a beating, but the company defends the decline as it managed to draw more shoppers than the previous year. Ikea’s revenue hit as it spent €2 billion slashing prices.
Furniture giant IKEA has agreed to pay 6 million euros ($6.5 million) towards a government fund compensating victims of forced labour under Germany’s communist dictatorship, in a move ...
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Replacing liquidated department store Robinsons, IKEA Jurong is only 6,500 m 2 (70,000 sq ft), encompassing three levels; it was the first location in Southeast Asia that did not provide the "Market Hall" warehouse in its store.
The French branch of IKEA went on trial on 22 March 2021, for running an elaborate system to spy on staff members and job applicants by illegally using private detectives and police officers. [17] On 15 June 2021, IKEA France was found guilty of spying and ordered to pay €1.1m in fines and damages for these illegal practices.
The group's Ingka Centres division has developed several shopping centres in which IKEA is the anchor tenant, including the MEGA malls in Russia. Beginning in 2020, the division has acquired existing complexes which will be renovated to include urban IKEA locations, including Kings Mall in London, 6x6 in San Francisco, and the retail podium of the Aura condominium towers in Toronto.
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Russia was the fourth market by revenue after Germany, the U.S. and Sweden. There were 3 IKEA stores in Moscow (Khimki, Teply Stan and Belaya Dacha), 2 stores in Saint Petersburg (Parnas and Dybenko), stores in Nizhny Novgorod, Yekaterinburg, Kazan, Novosibirsk, Rostov-on-Don, Novaya Adygea (in Adygea near Krasnodar), Samara, Omsk and Ufa. The ...