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Ikea profits drop on lower prices, tariff costs
Ikea profits drop on lower prices, tariff costs
Business and Economy
by  AFP

The world's leading furniture company, Ikea, reported a sharp fall in annual profits on Friday as it focused on dropping prices to boost volume and faced higher costs due to US tariffs. "The higher sourcing costs included the costs for increased tariffs, which have been partly absorbed," Inter Ikea said in a statement, referring to import taxes imposed by US President Donald Trump.