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Reuters

Reuters

Biggest IKEA retailer takes profit hit as price cuts dent sales

Reuters
Summary
Nutrition label

80% Informative

Ingka Group reported net profit of 800 million euros ( $841.28 million ) for the financial year ending Aug. 31 .

Revenues were down 5.5% from last year , at 41.8 billion euros, including IKEA retail sales of 39.6 billion euros.

The retailer said it prioritised affordability over profit, investing 2.1 billion euros in lowering prices.

VR Score

89

Informative language

94

Neutral language

82

Article tone

semi-formal

Language

English

Language complexity

47

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

External references

no external sources

Source diversity

no sources

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