Ikea reports S$1m dip in Singapore turnover to S$341m

Singapore

SWEDISH home retailer Ikea generated a turnover of S$341 million in Singapore for fiscal 2019 ended Aug 31, inching down 0.3 per cent or S$1 million from a year ago.

"The overall healthy and largely flat turnover was in line with our expectations," Corinna Schuler, head of corporate communication at Ikea South-east Asia, told The Business Times on Thursday. "In this economic climate, we're proud that our Singapore stores are keeping the loyal customers they have and raising brand awareness."