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Ingka, the holding company that owns most of Ikea's furniture stores around the world, said its profits had declined 40 percent in the last fiscal year, from 2.47 billion euros to 1.47 billion. The results depend on a major transformation of its business model, which provides for significant investments in logistics for online sales and the opening of new stores closer to city centers and small towns. The price of these operations, explained the Financial Times, was not billed to customers.
Total sales in the first eight months of 2018 increased by 2% and online sales by 45%. Of the investments, which amounted to 2.8 billion euros, a portion was spent on the purchase of wind farms in Finland and Portugal, as well as forests in Latvia and Latvia. in the USA. Ikea, which employs 160,000 people, has announced the elimination of 7,500 jobs in the administrative sector worldwide.
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