Lowe’s, Ikea to Expand in Canada

Lowe’s Cos. Inc. (Mooresville, N.C.) and Inter Ikea Systems B.V. (Delft, Sweden) indicated they will move ahead with plans to boost their presence in Canada despite the struggling economy.

According to the Edmonton Sun, Ikea Canada (Burlington, Ont.) is planning a “major expansion” in Winnipeg and Ottawa, while also rebuilding showrooms in other parts of the country. Lowe's said it will add three more stores in the Toronto area by the end of the second quarter.

“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,” said Ikea Canada president Kerri Molinaro. According to the Sun, both retailers also believe that a proposed federal tax credit could send shoppers rushing into stores. The proposal would give Canadians as much as $1350 in tax relief on home improvement projects.