IKEA is excited about NZ expansion – despite 'thinner' consumer wallets

IKEA is excited about NZ expansion – despite 'thinner' consumer wallets
In Australia last year, IKEA's earnings were boosted by strong DIY enthusiasm and home offices. (Image: Depositphotos)
Ella Somers
IKEA Australia is keeping its New Zealand expansion cards close to its chest as its plans to kick off in Aotearoa begin to ramp up.      But the retail giant’s Australia and New Zealand chief executive Mirja Viinanen – who is also the home furnisher’s chief sustainability officer – stressed to BusinessDesk that IKEA wouldn’t be comparing NZ with any of its other markets.“We are operating in 30 different countries anyway, and we have a different life-at-home situation for the people an...

More Retail

Rodd & Gunn breaches bank covenants amid overseas push
Retail

Rodd & Gunn breaches bank covenants amid overseas push

The men’s fashion retailer declared a negative working capital of $5.1 million.

Gregor Thompson 04 Dec 2024
Auckland FC scores big on kit sales
Retail

Auckland FC scores big on kit sales

Briscoe Group's Rod Duke said the kit is a "bright light" in tough trading conditions.

Gregor Thompson 02 Dec 2024
Bendon posts $4.1m loss
Retail

Bendon posts $4.1m loss

The company's profit and revenue fell in the year to June.

John Anthony 02 Dec 2024
Cactus Outdoor sews up jacket deal with global engineering firm
Retail

Cactus Outdoor sews up jacket deal with global engineering firm

Ghella grew to like Cactus gear while building $1.6 billion Auckland tunnel.

Gregor Thompson 29 Nov 2024