Ikea CEO projects flat profits for 2010
Shares insights on global challenges for furniture retailing giant
Mar 24, 2010
By furnitureinchina , Furniture Today
Tag: Ikea
Swedish furniture giant Ikea's CEO said this week that the private company's profits were flat in fiscal 2009 and he expects about the same this year, Swedish news site The Local reported.
In an interview with Swedish daily Dagens Industri, Mikael Ohlsson declined to disclose a profit figure. The newspaper had estimated it at more than 50 million kroner ($6.9 million) in 2009.
He also said that the retailer's results in Russia, where it is facing corruption allegations, were below expectations. The company also is facing problems in France, where a labor conflict led to a strike this month at 23 of its 26 stores there.
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