Ikea formalized its plans to open a Memphis store Tuesday morning.
The Swedish furniture retailer said it is proposing to build that store "in either Tennessee, Arkansas, or Mississippi" to increase its presence in the Southeastern U.S.
Details of the of the proposed store have been promised at an 11 a.m. news conference Tuesday at Memphis City Hall.
There are only 40 Ikea stores in the U.S., according to the company. The closest locations to Memphis are in Atlanta and Frisco, Texas. A St. Louis store is under construction and is slated to open next year.