Ikea has become the latest retailer to warn on supply chain problems, saying on Thursday that stock shortages were likely to last another year.
“We actually foresee that the availability and raw materials challenge will continue for the better part, if not the whole, of [the financial year to the end of August]. This is here for a longer period than we thought of at the beginning of the crisis,” Jon Abrahamsson Ring, chief executive of Inter Ikea, owner of the Ikea brand, told the Financial Times.
Reporting its annual results, the world’s largest furniture retailer also said the pandemic had helped its business and sped up its transformation.
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