By Leanne Carr2019-11-27T07:21:00
Ikea’s full-year profits fell despite its online sales soaring 50%.
Ingka Group, the holding company that runs Ikea posted a fall in operating profit to €2bn (£1.7bn) during the year to the end of August.
However, the group’s sales increased 5.3% to €39.1bn (£33.5bn) and pre-tax profits jumped 19% to €2.5bn (£2.14bn) due to a rise in income from financial investments.
Ikea profits fell 10% during the same period as the homeware retailer ramped up its spending in renewable energy and growing its online business.
The retailer’s online sales soared 50% and in-store sales registered a 0.7% uptick.
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