The company replaces Boscov's, a department store chain in the Mid-Atlantic region that declared bankruptcy in August, the Philadelphia Inquirer reported. Boscov's had warned WPVI-TV, the Philadelphia ABC affiliate, that it might not be able to reorganize in time to sponsor this year's parade. WPVI, owned by Disney, broadcasts the parade and is its other sponsor.

Ikea has been operating in the Philadelphia area for more than 20 years. Its first U.S. store opened in Plymouth Meeting in 1985, and its North American headquarters is in Conshohocken.

"It was a great opportunity for us to celebrate with the Delaware Valley community a traditional celebration to show good will and our support," said a spokeswoman Mona Astra Liss.

The parade was founded in the 1920s by a member of the Gimbels family, owners of the now-defunct chain that for many years was Macy's best-known rival. Macy's sponsors the New York parade.