IKEA calls 2022 an ‘exceptional year’ despite challenges

STOCKHOLM (AP) — Swedish home furnishings giant IKEA says that despite “unprecedented challenges” caused by the war in Ukraine, supply chain disruptions, increased inflation and lingering fallout from the COVID-19 pandemic, 2022 had been an “exceptional year.” The world’s biggest furniture brand on Thursday reported retail sales of 39.5 billion euros this financial year, which ran from Sept. 1, 2021, to Aug. 31. That was an increase of 5.6% from last year. The chief executive of the holding company Ingka that manages most of Ikea’s stores warned that “uncertainties will continue be part of our lives in the coming years.” IKEA is pulling out of Russia and has said many of its 15,000 employees there and in Belarus would lose their jobs.