IKEA will cut prices despite Red Sea shipping disruptions, says CEO

DAVOS, Switzerland: Ahead of the World Economic Forum's annual meeting this week, budget furniture retailer IKEA said that despite Red Sea shipping disruptions increasing costs, it will carry out planned price cuts.

It also has sufficient stocks to absorb any supply chain issues, it added.

In an interview with Reuters Global Markets Forum at the Swiss ski resort of Davos, Jesper Brodin, CEO of Ingka Grou