IKEA Shuts Memphis Store, Exits Tennessee
#IKEA #RetailNewsIKEA will close its Memphis store on May 3, just one year after a major renovation. Residents express sadness over losing the affordable furniture retailer. The company cited a review of business performance and market factors for the closure. read more
Ikea CEO warns of price hikes due to proposed tariffs
#Ikea #TrumpTariffsIkea's CEO warns of price increases due to new Trump tariffs, stating the company has never benefited from high tariffs. Around 30% of Ikea's goods are produced in Asia, mostly in China. The tariffs may impact consumer prices and the US economy. read more
Ikea Germany to Compensate Political Prisoners in East Germany
#Ikea #GermanyIkea Germany will compensate political prisoners who built furniture during the East German dictatorship with €6 million. The payment will go to a fund for victims of the former East German regime. An independent investigation by Ikea started in 2012. read more
#Ikea #NewYorkCityShopping
Ikea is opening an 80,000 square feet space on Fifth Avenue in New York City, near Rockefeller Center, with retail stores and planning studios. Ingka Investments, the majority owner of Ikea stores, made the purchase as part of its urban expansion strategy. read more