Ikea closes 5th US store in 2026, accelerates restructuring amid failed small-format strategy

Ikea closed its San Marcos, Texas small-format store after 14 months, marking its fifth US closure in 2026 and 13th globally, despite a $2.2B US investment. The closures reflect a strategic retreat from compact urban formats that failed to adapt to local shopping habits, signaling a broader retail restructuring. The move underscores persistent challenges in US physical retail and may pressure Ikea's parent company margins.