Ikea sales drop as group cuts prices to revive growth

The Irish Times · Richard Milne · 2026-11-06 13:34 UTC

Brand owner Inter Ikea says consumer weakness and geopolitical turmoil will weigh on sales and profits

IKEA’s sales fell last year, with weak consumer confidence and geopolitical turmoil set to weigh on revenues and profits in 2027 even as the world’s largest furniture retailer cuts prices to try to resuscitate growth.

The group’s retail sales from its 519 global stores fell 2 per cent to €43.8 billion during the year to the end of August as weakness in China and the Middle East outweighed growth in Europe and Latin America, brand owner Inter Ikea said on Friday.

“It was a challenging year for us ... It is possible that this year will be challenging also. The market is not easy,” Jakub Jankowski, chief executive of Inter Ikea, said.

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