IKEA (UK) lost £33 million in fiscal 2020

According to the Guardian, Ikea’s UK business lost a total of £33 million last year (31 August 2019 to 31 August 2020).

In terms of revenues, Ikea recorded £1.9 billion in the UK last year, decreasing 10%from the previous year. Analysts said, although Ikea’s online revenue rose by 31% last year, but Ikea is still has a traditional furniture enterprises with physical sales accounting the most. During the fiscal 2020, UK Ikea stores closed for three months due to the epidemic effect, which has brought the profound influence to its revenue and profit.

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