Index – Economy – IKEA will reopen its European stores in May

The head of the Ingka Group, which owns the majority of IKEA stores, said they plan to reopen their European stores in May, but did not specify exactly where and when, MTI writes.

Jeska Brodin, CEO of Ingka, said its sales had fallen 60 percent since March due to a drop in demand due to the coronavirus, along with the closure of IKEA stores.

Since March, most IKEAs in the Ingka Group have been closed in Europe, its most important market, and all of its stores have been padlocked at the entrance to North America, while almost all of its stores in Asia have been closed. reopened.

There are no plans yet to reopen IKEA stores in North America.

Ingka’s CEO said that since March, online orders have doubled from the previous year, which now represents almost half of total revenue.

The head of the company estimated that in the new financial year beginning in September, the company’s revenue will be almost 90 percent from the current year.

Ingka operates 420 IKEA stores worldwide, with a turnover of € 36.7 billion in the fiscal year ending in August, an increase of 5 percent over the previous year.