IKEA has promised to focus on its customers with the 'thinnest wallets' following record profits
The furniture company said it has a "clear intention" to reduce prices this financial year which ends in August 2024. It comes after the business announced an 11.9 per cent rise in turnover in the last financial year to the tune of £2.5 billion.
“Despite economic and geopolitical instabilities, we remain committed to making a positive difference in our customers’ lives; especially for those with the thinnest wallets,” said UK and Ireland chief executive 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.
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