IKEA Canada Survey Finds Canadians Are Still Investing in Kitchen Renovations

    BURLINGTON, ON, Feb. 5 /CNW/ - This week, IKEA Canada conducted a survey
of Canadian homeowners to gauge consumer attitudes toward the new Home
Renovation Tax Credit (HRTC). According to the findings, 73% of Canadian
homeowners believe that the HRTC will positively impact the economy. A
resounding 64% of respondents are planning to renovate at least one room in
2009, with the kitchen and bathroom as the two most popular rooms.
    "These responses support our belief that Canadians take a great deal of
pride in their homes," says Kerri Molinaro, President, IKEA Canada. "Our
kitchen business continues to thrive and we are confident that the HRTC will
help to fulfill our customers' desire to create a better life at home."
    The study showed that the majority of people planning a renovation
believe that they will benefit from the proposed HRTC. 19% of the respondents
are planning a kitchen renovation and 63% believe that a new kitchen
renovation can cost under $10,000.
    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, with all work done
between January 27, 2009 and February 1, 2010.
    "Canadians are still investing in their homes, but now more than ever
they are looking for value for their money," says Molinaro. "Consumers who are
renovating kitchens are turning to IKEA as we offer great value. The $10,000
cap is more than double the amount needed for a new IKEA kitchen"
    To supplement the HRTC incentive, IKEA will add further value for their
kitchen renovation customers from February 9 - March 29, 2009 by offering $100
back in IKEA gift cards for every $1,000 they spend, as well as a 6 month
deferred payment plan.

    (*) Leger Marketing fielded the online survey on behalf of IKEA Canada
        between February 2 and 3, 2009, among a national sample of 702
        Canadian homeowners 25 years of age and older.

    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 x 6378

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