Ikea sees supply-chain shortages stretching into mid-2022 [CBS News]
IHS Markit Ltd. Common Shares (INFO)
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Source: CBS News
The worldwide supply-chain crisis won't end anytime soon, leaving consumers everywhere to grapple with shortages well into 2022, the CEO of global home-furnishings giant Ikea said. "I don't think we will be out of the woods" during the Swedish retail giant's fiscal year, which ends in August, Inter Ikea CEO Jon Abrahamsson Ring told Bloomberg News. Inter Ikea is the worldwide franchiser for the Ikea brand. "This is a very big challenge for the whole supply infrastructure," he said, with one of the biggest challenges for Ikea and other retailers is getting goods out of China. Shipping delays are so severe in the U.S., the White House got involved Wednesday, saying officials helped broker a deal to open the Port of Los Angeles 24 hours a day, seven days a week. Some 40% of the nation's imports come through ports in L.A. and Long Beach, California. Ikea, with more than 50 U.S. locations , is concentrating on stocking its most popular brands as well as lower-priced items, Abraham
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