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IKEA Closes Memphis Store, Invests $2.2 Billion in U.S.

2/14/2026

50 12 Full Breakdown

Summary

Story summary

IKEA will close its Memphis store on May 3 after reviewing market share and performance.
Customers in Memphis expressed shock and sadness at the decision.
IKEA plans to invest $2.2 billion in the U.S. and open new stores.
The company will retain as many employees as possible by offering transfers or severance for those who do not relocate.
Tennessee will be left with only a pick-up location in Antioch.

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Story summary

IKEA will close its Memphis store on May 3 after reviewing market share and performance.
Customers in Memphis expressed shock and sadness at the decision.
IKEA plans to invest $2.2 billion in the U.S. and open new stores.
The company will retain as many employees as possible by offering transfers or severance for those who do not relocate.
Tennessee will be left with only a pick-up location in Antioch.