Business
IKEA unpacks fourth year of losses despite sales boom – Sydney Morning Herald
Swedish furniture giant IKEA has continued to rack up losses in Australia despite its sales for the 2020 financial year soaring to over $1.5 billion.
Swedish furniture giant IKEA has continued to rack up losses in Australia despite its sales for the 2020 financial year soaring to over $1.5 billion off the back of a COVID-induced boom.
Financial documents filed with the corporate regulator on Monday night reveal IKEA’s revenue for the 12 months to the end of August grew 11.4 per cent to $1.55 billion, one of the retailer’s most significant sales jumps in years.
IKEA’s profits have stayed depressed despite the company’s sales booming.Credit:
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