Ikea is spending over $2 billion to open 8 new US stores, with an eye on locations in the South, plus 9 design centers

• Ikea plans to invest $2.2 billion in its largest-ever US expansion. 
• The furniture retailer will open eight new stores and nine smaller locations over three years.
• Ikea's expansion comes as other big-box retailers are cutting jobs or closing stores. 

Ikea is spending over $2 billion to expand its US presence and lure frugal shoppers. 

The Swedish furniture retailer announced plans to open eight new stores and nine new "plan-and-order points," smaller locations where customers can design kitchens, bathrooms, and living rooms and select furnishings. Ikea will also upgrade its existing US stores and add 900 customer pick-up locations nationwide as part of a three-year plan.