IKEA CEO vows to bring growth back after sales fall for third year

The Straits Times · The Straits Times · 2026-11-06 13:20 UTC

IKEA CEO vows to restore growth after sales fall for a third year amid weak demand and higher costs. Read more at straitstimes.com.

- IKEA sales fell for a third year to €43.8 billion, down 2%, as weak demand and higher costs hit the business.

- CEO Jakub Jankowski said IKEA must “return back to growth” and become more affordable for families facing rising living costs.

- IKEA is opening more small city-centre stores, but it closed 7 stores in China and cut 850 jobs to reduce costs.

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