IKEA is losing sales for the third year in a row. For the 12 months ending in August, the company's revenues fell by 0.7%, to 43.8 billion euros, and the operating profit of the Inter IKEA Group fell by 15% to 1.46 billion euros. The company explains the results in the difficult market situation and the weakening of demand. To cut costs, IKEA laid off 850 workers while continuing to cut prices. In September, the company and its retail partners allocated approximately 1.2 billion euros for another round of price reductions in Europe Bloomberg.

IKEA is losing sales for the third year in a row. For the 12 months ending in August, the company's revenues fell by 0.7%, to 43.8 billion euros, and the operating profit of the Inter IKEA Group fell by 15% to 1.46 billion euros. The company explains the results in the difficult market situation and the weakening of demand. To cut costs, IKEA laid off 850 workers while continuing to cut prices. In September, the company and its retail partners allocated approximately 1.2 billion euros for another round of price reductions in Europe Bloomberg.