Ikea’s Czech operations saw both its profits and revenues fall for its financial year, which ended in August 2011. The furniture and home furnishings retailer announced profits of CZK 254m (€10.1m), down from 337m in 2010. Its four Czech stores have seen reduced revenues despite an increase in the number of visitors to them, according to the company’s 2011 annual report. Ikea dropped prices on its furniture and accessories by an average of 5.6 percent.
