IKEA U.S. announces plans to open four new-format stores in 2024 and shares progress made in FY23

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Jan 17, 2024, 10:01 ET

After reporting a record year in sales, IKEA U.S. releases its FY23 Annual Summary highlighting the company's commitments to becoming more affordable, accessible and sustainable.

CONSHOHOCKEN, Pa., Jan. 17, 2024 /PRNewswire/ -- Today, alongside the release of the 2023 Annual Summary, IKEA U.S. announced that four Plan & order point with Pick-up locations will open across the country in 2024. The Annual Summary shares strides the company made in affordability, sustainable practices, automation, and equity and inclusion; and these strategic expansions showcase how IKEA remains committed to making the brand more accessible, convenient and affordable for the many.

"As we look back at the past year, I'm proud of the progress we've made in reducing our environmental impact and keeping affordability and accessibility at the forefront for all our customers," said Javier Quiñones, CEO & Chief Sustainability Officer at IKEA U.S. "Looking ahead, we are excited about our plans for new locations and services bringing the joy of IKEA to more hearts and homes. Creating a home you love is about to get even simpler for everyone!"

Expanding our reach
In 2024, IKEA U.S. is excited to welcome customers at new Plan & order points with Pick-up in Austin, Texas, the Atlanta Metropolitan area, two locations in the greater Los Angeles market and more to come. The Austin Plan & Order point with Pick-up will be the second IKEA location in the Austin area and is slated to open in the summer of 2024 in the Domain Shopping Center at 3306 Esperanza Crossing. With the addition of the IKEA Pick-up point, customers will be able to collect their purchases when and where it's convenient for them.

These new format stores across the U.S. will increase accessibility for customers without compromising on quality or design, and customers can receive support from IKEA experts to plan and order home furnishing solutions such as kitchens, bedrooms and bathrooms. More details will be shared about each location throughout 2024.

In addition to new locations announced today, IKEA U.S. will open Plan & order points with Pick-up in Annapolis and Gaithersburg, Maryland, Katy, Texas and more.

IKEA is also sharing details about the past year in its FY23 Annual Summary, highlighting one of the most successful years to date for IKEA U.S. in advancing sustainability goals, building co-worker support and furthering product affordability. Highlights include:

IKEA U.S. had a record year, achieving over $6.3 billion in total sales of goods and services while continuing to keep affordability and accessibility at the core of its business.

Achieved a 6.6% growth compared to the previous year despite the prevailing economic challenges.
Re-introduced New Lower Price, a dedication to meaningful affordability through reduced prices on hundreds of favorite IKEA products across the entire range in all U.S. Stores and IKEA.com.
Lowered prices on many products during the summer months along with seasonal deals and discounts throughout the year.

IKEA U.S. made strides towards its mission to become climate-positive by 2030 and worked with social justice partners to create meaningful change.

Launched As-is online, a new service that allows IKEA Family members to shop gently used products from the comfort of their homes and expanded the Buy Back & Resell service to more stores.
Opened ultra-fast public EV chargers at several stores and will install a total of 500 public fast chargers and more than 300 fleet chargers in the coming years.
Contributed over $2.5 million in retail value of in-kind and financial donations to 280 different nonprofits.
Advocated for legislation that aligns with IKEA values and mission including the Climate Corporate Data Accountability Act in California, Respect for Marriage Act, Equality Act and the Stop Tip-overs of Unstable, Risky Dressers on Youth (STURDY) Act.

Putting people first is at the heart of the IKEA values-driven approach, and that starts with ensuring the health and happiness of IKEA co-workers.

Dispersed a total of $54.5 million to two thirds of U.S. co-workers as part of "One IKEA Bonus", a performance-based payout, in addition to an extra contribution to eligible co-workers' retirement plan through the Tack! Program.
Enhanced benefits for IKEA U.S. co-workers including adding new gender-affirming covered medical procedures to the medical plan.
Built ED&I into everyday operations through a new governance structure and continued the IKEA U.S. ED&I journey by sharing demographic data for leadership and U.S. co-workers.

View the full IKEA U.S. FY23 Annual Summary here for more details on how IKEA is creating a better everyday life for the many.

About IKEA
At IKEA, the vision is to create a better everyday life for the many people by offering well-designed, functional and affordable, high-quality home furnishing, produced with care for people and the environment. Ingka Group (Ingka Holding B.V. and its controlled entities) is one of 12 different groups of companies that own and operate IKEA retail under franchise agreements with Inter IKEA Systems B.V. Ingka Group has three business areas: IKEA Retail, Ingka Investments and Ingka Centres. Ingka Group is a strategic partner in the IKEA franchise system, operating 375 IKEA stores in 30 countries – including 51 retail locations in the U.S.

For more information on IKEA U.S., see IKEA-USA.com, @IKEAUSANews, @IKEAUSA or IKEAUSA on Facebook, YouTube, Instagram and Pinterest.

SOURCE IKEA