Investments, raw material prices weigh on main IKEA retailer's profit
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STOCKHOLM (Reuters) - Full-year operating profit at Ingka Group, which owns most IKEA stores, fell 10% as savings and increased sales failed to make up for higher purchasing costs and large investments as it adapts to digitalisation and fast-changing shopper habits. The world's biggest furniture retailer on Tuesday reported an operating profit of 2.03 billion euros (£1.7 billion) for its fiscal year through August.The budget brand, known traditionally for its large out-of town self-service..