STOCKHOLM—Ingka Group, the owner of most IKEA stores world-wide, reported on Tuesday a jump in annual profit on the back of record demand for home furnishing as people stay at home more due to the pandemic.
Despite more temporary store closures due to pandemic related restrictions than the year before, and product shortages due to the global supply chain crisis, operating profit in the 12 months through August was up 31 percent at 1.9 billion euros. Sales were up 6 percent, to above pre-pandemic levels, with online sales jumping to account for 30 percent of total sales, against 18 percent the year before.
