Content about Sweden

December 30, 2013

IKEA plans to break ground on a three-level, 380,000-sq.-ft. building in midtown St. Louis this summer, according to Pace Properties, the broker selected by IKEA to help facilitate the chain’s expansion into the St. Louis market.

St. Louis, Mo. — IKEA plans to break ground on a three-level, 380,000-sq.-ft. building in midtown St. Louis this summer, according to Pace Properties, the broker selected by IKEA to help facilitate the chain’s expansion into the St. Louis market.

The site is a 21-acre redeveloped tract at the intersection of Forest park and Vendeventer avenues within the 240-acre CORTEX Life Science District in midtown St. Louis.

December 18, 2013

Starwood Capital Group has acquired seven retail parks and shopping gallerias in Sweden for SEK 3.9 billion, according to CBRE, Starwood’s adviser on the transaction.

London — Starwood Capital Group has acquired seven retail parks and shopping gallerias in Sweden for SEK 3.9 billion, according to CBRE, Starwood’s adviser on the transaction. Kooperativa Forbundet, a Swedish retail group, was the seller.

November 14, 2013

Ikea Canada announced it has purchased a 46 megawatt wind farm in Pincher Creek, Alberta.

Burlington, Ontario -- Ikea Canada announced it has purchased a 46 megawatt wind farm in Pincher Creek, Alberta. The 20-turbine wind farm will be the largest owned by a Canadian retailer and is expected to generate 161 gigawatt hours (GWh) each year, which is more than double the total energy consumption of Ikea Canada. The project is currently being constructed by global wind and solar company Mainstream Renewable Power and is expected to be fully operational in fall 2014.

November 7, 2013

Ikea plans to nearly double the solar array completed in April atop its Perryville, Md., distribution center, the state’s largest such solar energy system.

Conshocken, Pa. – Ikea plans to nearly double the solar array completed in April atop its Perryville, Md., distribution center, the state’s largest such solar energy system. Installation of the new panels will begin in November with completion expected in 2014.

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.

June 18, 2013

Ikea said it plans to increase the solar array atop its two-year-old Centennial, Colo. store, with panel installation slated to begin in July.

Conshohocken, Pa. -- Ikea said Tuesday it plans to increase the solar array atop its two-year-old Centennial, Colo. store, with panel installation slated to begin in July.

Completion of what is already Colorado’s largest single-use rooftop array on a commercial building is slated for this fall, and will elevate the project to the state’s largest rooftop array of any use.

May 16, 2013

Starcounter announced that its high performance in-memory NoSQL database powers the supply chain management application utilized by Gekas, a superstore in Sweden visited by 4.5 million customers each year.

Stockholm, Sweden -- Starcounter announced that its high performance in-memory NoSQL database powers the supply chain management application utilized by Gekas, a superstore in Sweden visited by 4.5 million customers each year. With 100,000 different products in stock and all items in its warehouse sold out more than three times per week, Gekas uses the low-cost system from Heads, a real-time retail application vendor, to integrate and streamline its entire supply chain, from procurement and its central warehouse to customer sales.
 

May 8, 2013

Ikea has officially plugged-in the solar energy system installed at its store in Stoughton, Mass.

New York -- Ikea has officially plugged-in the solar energy system installed at its store in Stoughton, Mass. The 118,000-sq.-ft. array consists of a 590.8-kW (DC) system, built with 4,220 laminated panels. It will produce approximately 695,000 kWh of clean electricity annually, the equivalent of reducing 479 tons of carbon dioxide (CO2), eliminating the emissions of 94 cars or powering 60 homes yearly (calculating clean energy equivalents).  

April 16, 2013

Ikea said Tuesday it has plugged-in the solar energy system installed at its distribution center in Perryville, Md.

Perryville, Md. -- Ikea said Tuesday it has plugged-in the solar energy system installed at its distribution center in Perryville, Md.
 
The 768,972-sq.-ft. PV array consists of a 2,674.9-kW system, built with 18,576 panels, and is the state’s largest rooftop array.

The Ikea distribution center will produce approximately 3,397,178 kWh of clean electricity annually, the equivalent of reducing 2,397 tons of carbon dioxide, eliminating the emissions of 499 cars or powering 359 homes yearly.  
 

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 26, 2012

The Ikea Group plans to become energy and resource independent by 2020, according to the chain’s new “People & Planet Positive” sustainability initiative.

New York -- The Ikea Group plans to become energy and resource independent by 2020, according to the chain’s new “People & Planet Positive” sustainability initiative.

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.

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.

September 24, 2012

Ikea has officially plugged in its largest U.S. rooftop solar installation to date, at its store in Round Rock, Texas.

Round Rock, Texas -- Ikea has officially plugged in its largest U.S. rooftop solar installation to date, at its store in Round Rock, Texas. When combined with Ikea projects atop stores in Houston and Dallas-area Frisco, the new installation also makes Ikea the largest solar owner in Texas.

September 18, 2012

Ikea said that its CEO Mikael Ohlsson will step down effective Sept. 1, 2013, and will be succeeded by Peter Agnefjall, current country manager of Ikea Sweden.

Stockholm, Sweden -- Ikea said Monday that its CEO Mikael Ohlsson will step down effective Sept. 1, 2013, and will be succeeded by Peter Agnefjall, current country manager of Ikea Sweden.

To prepare Agnefjall for his new role, Ikea said that he will serve as VP of the company beginning in 2013 until his September transition.

April 30, 2012

Wrapp, a new online gift service from Sweden, has launched in the United States, partnering with such retailers as Gap, H&M and Sephora to let consumers send free virtual gift cards to friends on Facebook.

New York -- Wrapp, a new online gift service from Sweden, has launched in the United States, partnering with such retailers as Gap, H&M and Sephora to let consumers send free virtual gift cards to friends on Facebook.

January 26, 2012

Swedish fast-fashion retailer Hennes & Mauritz reported that net profit for the fourth quarter dipped to $997.2 million from $1.1 billion in the year earlier period.

Stockholm, Sweden -- Swedish fast-fashion retailer Hennes & Mauritz reported Thursday that net profit for the fourth quarter dipped to $997.2 million from $1.1 billion in the year earlier period. Sales in December, the first month of H&M's fiscal first quarter, were up 13% year-on-year in local currencies, against a forecast 12%. Same-store sales were up 4%.

"Most indicators suggest that the macro-economic climate in many of our markets will continue to be tough during 2012," said CEO Karl-Johan Persson.

September 29, 2011

Hennes & Mauritz AB reported Thursday that profit for the third quarter fell 15% to $533 million, from nearly $621 million in the year-ago period.

Stockholm, Sweden -- Hennes & Mauritz AB reported Thursday that profit for the third quarter fell 15% to $533 million, from nearly $621 million in the year-ago period. The Swedish fashion retailer cited rising procurement costs, marketing investments and a bump-up in new-store expansion for the decrease in profit.

H&M said it will add 265 new stores, up from the 250 previously planned, and will make market debuts in Indonesia and Thailand.

September 29, 2011

Hennes & Mauritz AB reported Thursday that profit for the third quarter fell 15% to $533 million, from nearly $621 million in the year-ago period.

Stockholm, Sweden -- Hennes & Mauritz AB reported Thursday that profit for the third quarter fell 15% to $533 million, from nearly $621 million in the year-ago period. The Swedish fashion retailer cited rising procurement costs, marketing investments and a bump-up in new-store expansion for the decrease in profit.

H&M said it will add 265 new stores, up from the 250 previously planned, and will make market debuts in Indonesia and Thailand.

June 22, 2011

Hennes & Mauritz AB reported Wednesday that net income for its second quarter dropped 18% to $673 million, from $817 million in the year-ago period.

Stockholm, Sweden -- Hennes & Mauritz AB reported Wednesday that net income for its second quarter dropped 18% to $673 million, from $817 million in the year-ago period.

The Swedish fashion retailer blamed higher procurement costs and promotional offers for the lagging performance.

Sales edged up to $5.1 billion from $4.96 billion in the prior year quarter, but gross margin shrank to 61.7% from a previous 65.9%.

January 20, 2011

Amazon.com said Thursday it is buying Lovefilm, a European movie rental service akin to Netflix, according to a report by the Associated Press.

New York City -- Amazon.com said Thursday it is buying Lovefilm, a European movie rental service akin to Netflix, according to a report by the Associated Press.

Terms of the acquisition were not disclosed.

Lovefilm operates in the United Kingdom, Germany, Sweden, Norway and Denmark. Much like Netflix, it is a subscription-based service through which people can rent movies by mail or watch them on TV or any other device with a high-speed Internet connection. The company also offers TV shows and games.

January 12, 2011

Office Depot is buying Swedish office supply company Svanstroms Gruppen in order to expand its presence there.

Boca Raton, Fla. -- Office Depot is buying Swedish office supply company Svanstroms Gruppen in order to expand its presence there.

Terms were not disclosed.

Office Depot first entered the Swedish market in 2004 through a strategic alliance with AGE Kontor & Data AB.

"We've been successful in this market and see continued growth and high potential in the region," said Charlie Brown, president of Office Depot's international division, said in a statement on Tuesday.

November 30, 2008

As the economy plummets, crime rises. Not every statistic supports that statement, but a...

September 9, 2008

Sales at IKEA rose 7% in its latest financial year, a Swedish newspaper reported on...