I
kea has promised to move on value financial savings to clients by slicing costs over the following yr as pressures in its provide chain begin to ease.
The firm mentioned that it has a “clear intention” to cut back costs this monetary yr, ending subsequent August and can launch a sale at Easter for the primary time.
“Despite economic and geopolitical instabilities, we remain committed to making a positive difference in our customers’ lives; especially for those with the thinnest wallets,” mentioned UK and Ireland chief govt Peter Jelkeby.
“Knowing that our customers continue to navigate a cost-of-living crisis, we absorbed significant cost increases to mitigate price rises as much as possible, investing in promotions, special offers, and, for the first time, an Easter sale.
“As we see supply chain costs start to ease, we have a clear commitment to lowering prices accordingly – ensuring we remain firmly on the side of the many people.”
It got here because the enterprise introduced a 11.9% rise in turnover within the final monetary yr to £2.5 billion. Globally, mum or dad firm Ingka Group’s retail gross sales rose 5.7% to 41.7 billion euros (£36 billion).
The firm mentioned that 38.5% of its UK gross sales had been made on-line, up from 35.8% a yr earlier.
Mr Jelkeby mentioned: “Over the past 80 years, we have developed our offering, value chain and sales channels, supporting our vision to create a better everyday life for the many people.
“As we look back on the last year and forward to the next 80, we constantly ask ourselves, how what we do today can be done better tomorrow.
“Over the past year, we have made significant investments on this journey to create a more accessible, affordable and sustainable IKEA , to meet the evolving needs of UK households.”
