Serious Jialat! IKEA to increase prices by 9%

[Pinkieslut]

Ikea to hike prices by 9% due to supply chain woes​

Ikea will hike its prices by an average of nine percent next year (AFP/Emmanuel DUNAND)

Fri, 31 December 2021, 1:27 pm


Ikea will hike its prices by an average of nine percent next year due to ongoing supply and transportation disruptions, the company that operates most of the Swedish furniture giant's stores said.
Thursday's announcement comes as pandemic-fuelled shortages and shipping challenges ramp up inflation and pinch economies globally, with consumers increasingly feeling the bite.
"Like many other industries, IKEA continues to face significant transport and raw material constraints driving up costs, with no anticipated break in the foreseeable future," Ingka Group, the holding company that owns 90 percent of Ikea's stores, said in a statement.

These higher costs -- which are mostly being felt in North America and Europe -- will now have to be passed on to customers, it added.
"The average of the increase in Ingka Group is around 9% globally, with variations across Ingka Group countries and the range, reflecting localised inflationary pressures, including commodity and supply chain issues," Ingka group said.
According to the company, Ikea franchisor Inter Ikea Group absorbed costs amounting to 250 million euros ($283 million) across 2021 due to these logistical tensions, which were exacerbated by the rebound in demand after the first phase of the pandemic.
Last month, Inter Ikea group reported a 17 percent drop in annual profits, attributing the dent to a steep increase in transport and raw material prices.
Container transport prices are at record levels following the outbreak of the pandemic, which has disrupted maritime logistics.
At the same time, the franchisor behind the world's largest furniture seller reported higher sales for the year at 25.6 billion euros, up eight percent.
But a global spike in energy prices, supply chain snags and surging demand has prompted runaway inflation.
In the eurozone, inflation reached 4.9 percent over one year in November, a record high since the introduction of the single currency in 1999.
In the United States, prices rose by 6.8 percent last month compared to November 2020, its highest level in 39 years.
map/alc/lb/ssy

 

[laksaboy]

Time to train yourself to survive on just one meal a day. If the Buddhist monks can do it (vegetarian meal some more), so can you.

 

[winners]

Actually, IKEA products are highly exaggerated. Most are either Made-In-China or Made-In-India.

 

[laksaboy]

Actually, IKEA products are highly exaggerated. Most are either Made-In-China or Made-In-India.

Hopefully the meatballs are not.

 

[winners]

Hopefully the meatballs are not.

At least in IKEA China, yes.

According to a report in the state-run China Daily on Wednesday, the Swedish meatballs that furniture retailer IKEA sells in China have stirred controversy-- not because they were found to contain equine DNA like some of the company's meatballs in Europe, but because it turns out they're made in China.

Source: https://www.wsj.com/articles/BL-CJB-17310

 

[Cottonmouth]

At least in IKEA China, yes.



Source: https://www.wsj.com/articles/BL-CJB-17310

Unknown meat?

 

[kkbutterfly]

gst havent 9% , they keep the ball rolling

 

[syed putra]

The cost of transportation can easily be resolved if politicians allow older lorries to take the container off California ports to its destination. This policy causing huge jam of vessels waiting to unload and adding up cost to traders plus damages to goods due to very long waiting time.

 

[eatshitndie]

The cost of transportation can easily be resolved if politicians allow older lorries to take the container off California ports to its destination. This policy causing huge jam of vessels waiting to unload and adding up cost to traders plus damages to goods due to very long waiting time.

it will help to bring logistics and transportation workers back if californicate stops shelling out stimulus and unemployment payments to these workers who file for them. state payments are higher than what they normally earn pre-xi pandamic. who wants to go (back) to work if the state keeps paying 2 years into the pandamic? and now, the bozos in sacramento want to sextend payments into the 3rd year.

 

[nightsafari]

it will help to bring logistics and transportation workers back if californicate stops shelling out stimulus and unemployment payments to these workers who file for them. state payments are higher than what they normally earn pre-xi pandamic. who wants to go (back) to work if the state keeps paying 2 years into the pandamic? and now, the bozos in sacramento want to sextend payments into the 3rd year.

same nonsense in Canada. Dishwasher being offered $50k annum just to get a warm body in the door to do the work.

Here's why Vancouver's $50K/year dishwasher job went viral​

Sarah Anderson
|
One Kitsilano restaurant’s job posting turned a lot of heads this month with its eye-popping salary.

While the Handi Grill’s posting on Indeed is now expired, it gained a lot of traction when it was reposted to Reddit on Saturday, October 9.
Offering a full-time, permanent, 40 hours per week dishwashing job at $25/hour – the job essentially gives you a $50,000 per year salary. In BC, the general minimum wage is now $15.20 an hour.
The original poster pointed that this could be the signs of a labour shortage. Restaurants Canada pointed out that there was a labour shortage in the industry in August 2021.
According to their survey, 80% of respondents reported that it was hard for them to hire back-of-house staff and noted that dishwashers were one of the key positions that was difficult to fill.
Commenters on the Reddit post chimed in offering their perspectives and many pointed out that dishwashing was a hard job.

 

[tobelightlight]

Hopefully the meatballs are not.

not made in China?

 

[Pinkieslut]

Food Quality has gone down since the good ole days with this Sinkie Manager

Former F&B manager at Ikea cleared of corruption charges​

Mr Chris Leng Kah Poh (above), a former food and beverage (F&B) manager at Ikea, walked out of court a free man on Wednesday after the High Court acquitted him of corruption.  -- ST FILE PHOTO:  WONG KWAI CHOW 

Selina Lum
Law Correspondent

PUBLISHED

SEP 18, 2013, 11:46 AM SGT

FacebookTwitter

A former food and beverage (F&B) manager at Ikea walked out of court a free man on Wednesday after the High Court acquitted him of corruption.
Mr Chris Leng Kah Poh, 52, had been sentenced to two years' jail in February after he was found guilty of 80 corruption charges for accepting $2.3 million in bribes to favour a food supplier to the furniture chain. He appealed against his conviction and sentence last month.
In clearing Mr Leng, Justice Choo Han Teck said that the prosecution had not proved beyond a reasonable doubt that Leng had committed an offence under the Prevention of Corruption Act (PCA).

The judge said he found that it was Mr Leng who came up with the arrangement which allowed himself and his two partners to skim money off food contracts with Ikano, which owns the Ikea franchise here. However, the judge said this was not a case of corruption. "What the appellant did was wrong but it was not an offence of corruption under the PCA," said Justice Choo. He added that his decision did not preclude Mr Leng's then employers from taking civil action against him for fraud or breach of fiduciary duties to recover the sums taken from it.

 

[maxsanic]

I don't really understand why Singaporeans are so into Ikea. Other than the small household items that are cheap, the furniture isn't value for money. The cheap furniture series are usually made of low density chip board and cannot take any reasonable load, they bend and break like nobody's business. The higher quality series are usually not price competitive, quite expensive and cost like 70% - 80% of low end designer brands.

 

[sweetiepie]

Imuho IKEA or whoever can increase anything they want including pap can increase gst for everything except medical KNN the rest is upto us whether we want to consume KNN important is don't consume it when they increase then kpkb KNN

 

[laksaboy]

It is my opinion that Ikea furniture is terrible. Ikea might be good for the simple stuff e.g. cutlery, gardening tools, simple home decor, accessories.

 

[waitifcuk]

Imuho IKEA or whoever can increase anything they want including pap can increase gst for everything except medical KNN the rest is upto us whether we want to consume KNN important is don't consume it when they increase then kpkb KNN

KLN

They should not increase for cigs and vodka.
This will help @glockman tremendously.

 

[Leckmichamarsch]

The cost of transportation can easily be resolved if politicians allow older lorries to take the container off California ports to its destination. This policy causing huge jam of vessels waiting to unload and adding up cost to traders plus damages to goods due to very long waiting time.

camel vomit

 

[LordElrond]

I don't really understand why Singaporeans are so into Ikea. Other than the small household items that are cheap, the furniture isn't value for money. The cheap furniture series are usually made of low density chip board and cannot take any reasonable load, they bend and break like nobody's business. The higher quality series are usually not price competitive, quite expensive and cost like 70% - 80% of low end designer brands.

IKEA loitering is a favourite past time of low SES Sinkies. Just went there today on their free bus from Bedok. Many products out of stock.

 

[Hypocrite-The]

Ikea to hike prices by 9% due to supply chain woes​

Ikea will hike its prices by an average of nine percent next year (AFP/Emmanuel DUNAND)

Fri, 31 December 2021, 1:27 pm


Ikea will hike its prices by an average of nine percent next year due to ongoing supply and transportation disruptions, the company that operates most of the Swedish furniture giant's stores said.
Thursday's announcement comes as pandemic-fuelled shortages and shipping challenges ramp up inflation and pinch economies globally, with consumers increasingly feeling the bite.
"Like many other industries, IKEA continues to face significant transport and raw material constraints driving up costs, with no anticipated break in the foreseeable future," Ingka Group, the holding company that owns 90 percent of Ikea's stores, said in a statement.

These higher costs -- which are mostly being felt in North America and Europe -- will now have to be passed on to customers, it added.
"The average of the increase in Ingka Group is around 9% globally, with variations across Ingka Group countries and the range, reflecting localised inflationary pressures, including commodity and supply chain issues," Ingka group said.
According to the company, Ikea franchisor Inter Ikea Group absorbed costs amounting to 250 million euros ($283 million) across 2021 due to these logistical tensions, which were exacerbated by the rebound in demand after the first phase of the pandemic.
Last month, Inter Ikea group reported a 17 percent drop in annual profits, attributing the dent to a steep increase in transport and raw material prices.
Container transport prices are at record levels following the outbreak of the pandemic, which has disrupted maritime logistics.
At the same time, the franchisor behind the world's largest furniture seller reported higher sales for the year at 25.6 billion euros, up eight percent.
But a global spike in energy prices, supply chain snags and surging demand has prompted runaway inflation.
In the eurozone, inflation reached 4.9 percent over one year in November, a record high since the introduction of the single currency in 1999.
In the United States, prices rose by 6.8 percent last month compared to November 2020, its highest level in 39 years.
map/alc/lb/ssy

Another reason for high prices and lack of stock...the trains in Bolshevik state are being robbed... Like the old days of the wild west.

 

[Scrooball (clone)]

9% price increase and I still have to bring the shit back without free delivery and assemble myself? Do they take me for a sucka?