IKEA Canada Invests Heavily in Expansion Across Canada As New Tax Credit on Home Improvements Announced



    BURLINGTON, ON, Feb. 3 /CNW/ - In the proposed Federal budget, Federal
Finance Minister Jim Flaherty has promised Canadians a tax credit on home
improvement projects in order to stimulate the economy. This announcement
comes at the same time that IKEA Canada has announced plans for major
expansion in Winnipeg and Ottawa. The company has also comitted to rebuilding
complete showrooms in Etobicoke, Boucherville and Edmonton in Spring 2009.
While other major retailers are closing stores or cancelling plans for new
stores, IKEA Canada is investing heavily in the Canadian market.
    "We believe in the vitality of the Canadian Market and we have every
indication that Canadians are still interested in investing in their homes,
particularly with projects like new kitchens." Says Kerri Molinaro, President,
IKEA Canada. "Our kitchen sales are still strong and we feel an increasing
demand for our products across Canada. Now more than ever, consumers are
looking for well designed, good quality products at the most competitive
prices."
    The home renovation tax credit will give up to $1,350 in tax relief on
home improvement projects like kitchen renovations. Eligible expenses would
have to total at least $1,000, but not more than $10,000, and the work would
have to be done between January 27, 2009 and February 1, 2010.
    "The home renovation tax credit is great news for IKEA customers," says
Molinaro, "the average IKEA kitchen costs less than half of the $10,000 cap,
and our home delivery and installation services are available immediately.
IKEA offers its customers the best value on the market when it comes to
quality kitchens with great design"

    IKEA is a leading home furnishings retailer with 286 stores in 36
countries worldwide, which are visited by 565 million people every year. IKEA
Canada has 11 stores which are visited by over 25 million people every year.
Last year the ikea.com websites attracted 450 million visitors. Founded in
1943, IKEA's business philosophy is to offer a wide range of products of good
design and function at prices so low, the majority of people can afford them.
For more information on IKEA, please visit: www.ikea.ca.





For further information:

For further information: or interview requests: Madeleine
Lowenborg-Frick, Public Relations Manager, IKEA Canada, (905) 637-9440 x6378


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