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IKEA posts record profit as it entices cost-conscious shoppers

from Reuters

IKEA Group, the world's biggest furniture retailer, posted a record net profit on Wednesday for the 2011/12 year, helped by sales and market share growth as budget design enticed austerity-hit shoppers. Net profit at the privately-held Swedish firm, known the world over for low-price, self-assembly, flat-packed furniture, rose 8 percent to 3.2 billion euros ($4.3 billion) in the 12 months through last August. more

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