Page 5 - Inter Ikea News Today

Ikea opened its biggest store in the world in the Philippines, with the new 730,000 square foot facility in Manila a cornerstone of the home-furnishings giant’s expansion plans in Asia.

MANILA (Bloomberg): Ikea opened its biggest store in the world in the Philippines, with the new 730,000sq ft facility in Manila a cornerstone of the home-furnishings giant’s expansion plans in Asia.

The owner of the Swedish furniture brand, Inter Ikea Group, is going to raise its prices. The company saw profit fall last year due to higher transportation and raw material costs and expects supply issues to continue well into 2022.

World’s largest furniture group says disruptions mean next year will be ‘more difficult’ than 2021

Inter Ikea Group, the company that operates the brand and franchise business of the Swedish furniture giant, reported a drop in annual profits on Wednesday, weighed down by higher material and transport costs.

Empty shelves will be more common in North America, followed by Europe, according to company officials. | Economy

Supply chain issues show no signs of easing at the retailer as chaos across logistics continues to grip companies

Citing "limitations that we have never seen before," Swedish retail giant to focus on stocking its most popular home products.

Ikea, the worlds biggest furniture brand, is leasing more ships, buying containers and re-routing goods between warehouses as it works hard to mitigate a perfect storm of global supply chain disruptions which could last into next year, executives said.

Homeware giant the latest to warn about supply chain issues