IKEA aims to start reopening stores in Europe in May

IKEA store owner Ingka Group, the world’s biggest furniture retailer, aims to start reopening shops in Europe in May after closures and sliding demand due to the COVID-19 pandemic slashed group sales by 60%, its chief executive said.

of Ingka’s stores in main market Europe and all in North America are closed since March while in Asia almost all are open.

The closure period for each store will be up to eight weeks. Online sales during the COVID-19 crisis were twice as high as a year ago, cushioning the overall revenue dive and accounting currently for roughly half the group total.

The lockdowns and other measures that have resulted in many people staying at home have boosted overall sales of office furniture, laundry baskets, and kitchen and cooking equipment such as pots, pans and jars, he said. In home market Sweden, sales of entire kitchens are up.

Reuters