IKEA’s sales during pandemic drop by 60%

IKEA’s sales during pandemic drop by 60%
IKEA store owner Ingka Group, the world’s biggest furniture retailer, aims to start reopening shops in Europe in May after closures and sliding demand due to the COVID-19 pandemic slashed group sales by 60%, its chief executive said.    Most of Ingka’s stores in main market Europe and all in North America are closed since March while in Asia almost all are open.    Ingka CEO Jesper Brodin estimates that the closure period for each store will be up to eight weeks. “This is the period we need to persevere and ...

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