Swedish furniture retailer IKEA posts losses in Romania in 2018

The revenues of Swedish furniture retailer Ikea in Romania rose by 8% in 2018 compared to 2017, to RON 680 million (EUR 146 million), Ziarul Financiar reported.

However, the company posted RON 8 million (EUR 1.7 mln) losses in the year. The losses in 2018 came after a net profit of RON 24.2 mln (EUR 5.2 mln) in 2017.

However, the losses may be linked to the investments made in the construction of the second IKEA store in Romania, the one in Bucharest’s Pallady area, which was started at the end of 2017.

The store, which required an investment of EUR 90 million, opened in June this year, after several delays.

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(Photo courtesy of the company)