STOCKHOLM IKEA's Ingka Investments is in talks to buy commercial property in prime locations in several big European cities after it finalised its first-ever such acquisition last month, its managing director said.
STOCKHOLM IKEA stores owner Ingka Group saw a 29% fall in operating profit in the year to end-August due to the COVID-19 pandemic, but predicts a recovery this year as temporarily housebound consumers spend more on home improvements.
STOCKHOLM Profits at the IKEA furniture brand's owner grew in the 12 months through August as shoppers kept at home by the pandemic spent money saved by not going on holiday on furnishing, and September and October sales rose.
STOCKHOLM IKEA, the world's biggest furniture retailer, will on Monday open a pilot second-hand store for IKEA furniture in Sweden as part of its efforts to reach its 2030 climate targets. | Video
STOCKHOLM IKEA's shopping malls business, one of the world's biggest, said its expansion plans remained on track with visitors quickly returning to its premises after the lifting of coronavirus-related lockdowns which had forced stores to close.
* To invest 2.6 bln SEK in new digital platform
(Adds CEO comment, updates shares)
STOCKHOLM Profits at Assa Abloy, the world's biggest lockmaker, fell less than expected in the third quarter due to a strong recovery across divisions and especially in Europe, from the pandemic-induced slump earlier in the year.
* Pandemic, good weather extends gardening season through
STOCKHOLM American poet Louise Gluck won the 2020 Nobel Prize in Literature for works exploring family and childhood in an "unmistakable...voice that with austere beauty makes individual existence universal", the Swedish Academy said on Thursday. | Video