IKEA brand owner says higher wood and metal prices hit profit

STOCKHOLM (Reuters) - The owner of the IKEA furniture brand reported a drop in annual underlying profit on Monday, hit by higher wood and metal prices.After decades of rapid growth, the world's biggest furniture brand is battling to adapt to the rise of online rivals such as Amazon and made.com, while also trying to maintain its hallmark affordability amid rising raw material and other costs. As part of an overhaul in 2016, design, in-house production and supply chain management transferred..