Time for the Swedish chef: Ikea’s furniture profits are down in Australia, but food sales are booming

Retailer reports 5% growth in restaurant and food business, with affordable meals attracting Australians feeling the pinch

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It's not unusual for a trip through one of Ikea's labyrinthine stores to end with a $2 hotdog, but more Australians are skipping the flat-pack furniture altogether and heading straight to the dining section.

Ikea is seeing more growth from its in-store restaurants and food offerings than its home furnishings, according to its end-of-year results released last week, with its dining sales increasing by 5% in 2023-24 even as overall sales slumped.

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