IKEA Owner’s Profit Slumps as Price Cuts, Costs and Tariffs Bite

Inter IKEA Group posted a 26% drop in profit in its latest financial year as the rising costs of materials that go into its products, tariffs and one of the...

By Rafaela Lindeberg · Bloomberg

Inter IKEA Group posted a 26% drop in profit in its latest financial year as the rising costs of materials that go into its products, tariffs and one of the biggest price-cut programs in the company’s history eroded margins even as sales volumes grew.