News > ‘Challenging’ year for Ikea, 10,000 layoffs in Russia

‘Challenging’ year for Ikea, 10,000 layoffs in Russia

Swedish furniture giant Ikea posted Thursday a six per cent rise in full-year sales in what it described as a “challenging” year due to inflation and scaling back in Russia.

The 2022 fiscal year “was a challenging year for the world, of course with all the things going on around us with pandemics but also very steep increasing inflation,” Ikea’s CEO Jon Abrahamsson Ring told AFP.