In­vest­ment sees fall in prof­its at IKEA

Yorkshire Post - Business - - NEWS / BUSINESS -

Up­date:

IKEA Group on Wed­nes­day re­ported a 26 per­cent drop in op­er­at­ing profit for its fis­cal year through Au­gust and said in­creased in­vest­ments to meet rapidly chang­ing shop­ping habits weighed on re­sults.

Op­er­at­ing profit at the world’s big­gest fur­ni­ture group was 2.25 bil­lion eu­ros ($2.54bn)against 3.03 bil­lion in the pre­vi­ous fis­cal year. IKEA, known tra­di­tion­ally for its self-ser­vice out-of-town stores, is in the mid­dle of trans­form­ing its busi­ness model, in­vest­ing in e-com­merce, ser­vices and more ac­ces­si­ble city-cen­tre stores.

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