Nestled in a sleepy southern district of Kunming city in southwest China, is a 10,000 square meter, four-story building that could make Swedish furniture giant Ikea uneasy.
KUNMING, China (Reuters) - Nestled in a sleepy southern district of Kunming city in southwest China, is a 10,000 square meter, four-storey building that could make Swedish furniture giant Ikea uneasy.
Reuters - Nestled in a sleepy southern district of Kunming city in southwest China, is a 10,000 square meter, four-storey building that could make Swedish furniture giant Ikea uneasy.
STOCKHOLM, Sweden — Swedish furniture giant Ikea was drawn into Europe’s widening food labelling scandal Monday as authorities said they had detected horse meat in frozen meatballs labelled as beef and pork and sold in 13 countries across the continent.
The Czech State Veterinary Administration said that horse meat was found in one-kilogram packs of frozen meatballs made in Sweden and shipped to the Czech Republic for sale in Ikea stores there. A total of 760 kilograms of the meatballs were stopped from reaching the shelves.
Swedish furniture giant Ikea reported on Wednesday an 8.0-percent rise in full-year profit and said it was benefiting from more cost-conscious consumers. Net profit rose eight percent to 3.2 billion euros ($4.3 billion) as revenue rose 9.8 percent to 27.6 billion euros in the year ending August 31.