IKEA Continues to Delay Work on New Colorado Store Site

Construction at IKEA's planned new store on a 123-acre site in Broomfield, Colorado, is still yet to begin, two years after work was slated to commence.

Haley Mayer, an IKEA spokesperson, said of the delay: “We are in a rapidly changing retail environment. To be fit for long term growth, we are creating a new business model to make sure we’re accessible and convenient for our customers today and in the future.”

“These changes affect our plans for Broomfield, and the timing for construction has been delayed.

“While we remain committed to the site, we have slowed down the process to ensure we design a location that aligns with our multichannel strategy and strengthens our approach to customer fulfilment.”

IKEA's latest results revealed that that profits had dropped by more than a third amid store and e-commerce investments.

Chief executive of Inter IKEA, Torbjorn Loof, recently told The Financial Times that IKEA is looking to launch an online marketplace to sell its own furniture as well as those of its competitors.  

Source : Insight DIY Team

For all the very latest news and intelligence on the UK's largest home improvement and garden retailers, sign up for the Insight DIY weekly newsletter.