Ikea UK sales climb as it promises to reduce prices

Cushions on display at Ikea Hammersmith store

Ikea has posted strong sales growth and promised to reduce prices in the next financial year.

The home and furniture giant posted a sales increase of 11.9% to £2.46bn for the 2023 financial year, while sales at the wider Ingka Group reached €41.7bn (£36bn), up 5.7% on €39.5bn (£34bn) in FY22.

Ikea also announced its intention to reduce its prices next year as supply chain costs begin to lower. 

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