Ikea: store sales rebounded by 13% in 2022

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Ingka Group, the main franchisee of the Inter-Ikea Group managing the bulk of the group’s stores, shopping centres and e-commerce operations, published annual results on 13th October 2022. In the year to the end of August 2022, sales (including catering, products and services of the 12 Ikea franchisees) reached €44.6 billion, an increase of 3.5% at constant exchange rates compared to FY2021 (€41.9 billion). Price increases, driven by €1 billion in higher costs, dampened the group’s...