Content about Economy of Sweden

June 3, 2014

Ikea announced it had completed the installation of South Florida’s largest solar array, which will be plugged-in officially atop the future Miami-Dade Ikea store opening this summer in Sweetwater, Florida.

Sweetwater, Fla. -- Ikea announced it had completed the installation of South Florida’s largest solar array, which will be plugged-in officially atop the future Miami-Dade Ikea store opening this summer in Sweetwater, Florida. Combined with rooftop arrays in Orlando, Tampa, and Sunrise, this fourth solar project will keep Ikea as the state’s largest non-utility solar owner.

November 13, 2013

Ikea announced solar energy is planned for its store under construction in Sweetwater, Fla., which is in the Miami-metro area.

Conshohocken, Pa. -- Ikea announced solar energy is planned for its store under construction in Sweetwater, Fla., which is in the Miami-metro area. Pending permits, installation of solar panels on the store’s roof will begin in several months, with completion by grand opening in summer 2014. Ikea contracted with REC Solar for the development, design and installation of the 416,000-sq.-ft. store’s customized solar power system.

September 19, 2013

Ikea announced the completion of North America's largest Ikea location, in Ville St. Laurent.

Burlington, Ontario -- Ikea announced the completion of North America's largest Ikea location, in Ville St. Laurent. Growing from 237,473 sq ft to 469,694 sq ft, the state-of-the-art Ikea Montreal will host a warehouse that is twice the size, doubling the amount of products available to take home at any time.

The new store will also offer customers 1407 parking spots, 600 seats in the restaurant, 48 cash lanes, 54 room settings and 2 full home settings.

January 30, 2013

Ikea officially plugged-in the solar energy system installed at its store in City of Sunrise, Fla.

Sunrise, Fla. -- Ikea on Wednesday officially plugged-in the solar energy system installed at its store in City of Sunrise, Fla. It is the largest solar installation in South Florida and, when combined with Ikea projects already completed atop stores in Orlando and Tampa, will make Ikea the state’s largest non-utility solar owner. 

January 21, 2013

A report by Bloomberg said that Ikea has received the go-ahead from the Indian government to open outlets in the country, making it perhaps the first major foreign retailer to set up its own stores in the region.

Delhi, India -- A Monday report by Bloomberg said that Ikea has received the go-ahead from the Indian government to open outlets in the country, making it perhaps the first major foreign retailer to set up its own stores in the region.

The Swedish furniture retailer was cleared by the Foreign Investment Promotion Board, according to a statement by Commerce Minister Anand Sharma. The approval is a turnaround for the Indian government which last year barred Ikea from operating cafes and limited retail wares it could sell in stores.

November 15, 2012

Ikea announced it is submitting plans to the City of Burbank, Calif., for a new and larger store to replace its current location among the Swedish retailer’s presence in the Los Angeles area.

Conshohocken, Pa. – Ikea announced it is submitting plans to the City of Burbank, Calif., for a new and larger store to replace its current location among the Swedish retailer’s presence in the Los Angeles area. The application will mark the beginning of the governmental review process for this proposed relocation.

October 1, 2012

Ikea said that it plans to sell only energy-efficient LED lighting by 2016.

Plymouth Meeting, Pa. -- Ikea said Monday that it plans to sell only energy-efficient LED lighting by 2016. The move comes two years after the Swedish retailer phased out incandescent bulbs.

Ikea said it believes the shift to the longer-lasting bulbs will help set an environmentally friendly example in the industry. It also will help save the company about $10 million to $20 million a year, or 10%, in lighting costs at its 300 stores around the globe, said Steve Howard, the company's chief sustainability officer.

September 27, 2012

Swedish fast-fashion retailer Hennes & Mauritz AB reported that net income for the quarter ended Aug. 31 edged up less than 1% to $550 million, missing analysts’ expectations of $618 million in profit.

Stockholm, Sweden -- Swedish fast-fashion retailer Hennes & Mauritz AB reported Thursday that net income for the quarter ended Aug. 31 edged up less than 1% to $550 million, missing analysts’ expectations of $618 million in profit. Sales rose 10% in local currency, but gross margins shrank and the retailer said it would delay the start of online operations in the U.S. until next summer to allow it more time to adapt to the market.