Just got back from a trip to Ikea after church and they have a large red "Sale" sign hanging outside. Inside, price tags are crossed out with reduce pricing writing in red. I would say markdowns range from 20-50% on a wide range of items. Not a complete store-wide markdown, but a drastic move by this Euro. company to try and sell through last year's (LY) merchandise before the new spring lines come in.
Also, as an interesting note, it is very apparent that they are switching up many of their displays and layouts; opting for more grouped merchandising (like categories) and less product on the show room floor (simpler displays).
All the bargain hunters were out today.
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