JYSK Announces Record UK & Ireland Profits

• Total sales in JYSK UK & Ireland reached €68.9M, an increase of 67%
• JYSK UK & Ireland posts record €8.3M (+740%) improvement on results for FY 2020/2021
• Both JYSK Ireland and UK report positive EBIT despite extensive lockdowns during company’s fiscal year
• Growth is owed to a continued focus by customers on home and garden improvements as well as new store expansion
• 1.1 MILLION customers made a purchase during FY 2019/2020, an increase of 30%
• Three UK store openings and two in Ireland have created over 60 new jobs.
• Outlook is extremely positive for FY 2021/2022 says Country Manager for JYSK UK & Ireland
• 14 more stores forecasted in UK and Ireland in 2021/2022
• Staff rewarded with industry-leading sales bonus scheme giving an average of £2397 / €2539 to every full-time employee, despite extensive lockdowns
• Hundreds of new jobs to be created by retailer

Danish furniture and home furnishings brand, JYSK has announced record results in the UK & Ireland during the financial year 2020/2021, with total sales reaching €68.9M, an increase of 67% on previous year.

Despite a challenging end to 2020 and start to 2021, 1.1million customers (a 30% YoY increase) in the UK & Ireland with a hype for hygge-inspired décor chose to shop at the Scandinavian retail chain to improve everyday life in their homes. This, coupled with physical store expansion, an increasing number of focused marketing campaigns and a move towards investing in more brand ambassador campaigns has helped drive the in-market growth towards JYSK stores, both physical and online.

Country Manager JYSK UK & Ireland, Roni Tuominen said: “We are delighted to be announcing today that JYSK is a retail success story. Whilst it was been another tough year for retail in many ways, we are very pleased with the results of our continued investment in growing JYSK’s geographical – and digital – footprint. In Ireland, we were able to contribute positive EBIT for our second financial year in the row. In the UK, we have contributed positive EBIT for the first time which is a huge achievement considering five out of 12 months our stores were closed. Following last year’s turnaround project to merge the UK and Ireland organizations we have seen the initial trend for growth continue. Our investment in people and bricks and mortar stores remains our priority to make JYSK the UK’s number one shopping destination for home decor and furniture.”

“It was also a great privilege to be able to implement our Industry leading retail reward scheme where all full-time employees received an average bonus payment of £2397 / €2539. It is rewarding to acknowledge their hard work throughout the year, especially during the challenging periods with extended lockdowns where they proved they were agile and flexible in helping us to find creative solutions to service our customers”.

With such positive results, Roni Tuominen explains that JYSK will continue to push forward with the expansion plans of opening 14 stores in the UK and Ireland in FY 2021/2022. “We are very confident in both the UK & Ireland market, and we will continue with our expansion plans over the next 12 months. The appetite is there for home furnishing products amongst our customers, perhaps now more than ever as the nation continues to spend more at time at home and invest in creating comfortable, ‘hygge’ inspired interiors that our synonymous with our Danish heritage.”

The expansion plan also means the retailer is set to hire hundreds of new employees. Interested applicants are encouraged to visit the retailer’s careers website to find out more at https://careers.jysk.co.uk/ or https://careers.jysk.ie/.

The positive results from JYSK in the UK & Ireland are part of a greater success global story for JYSK, which in total operates more than 3000 stores in 50 countries. The company once again managed to utilise the combination of physical stores and strong digital platforms to set a new record with a turnover of DKK 32.6 billion (EUR 4.3 billion) and an EBIT result of DKK 4.5 billion (EUR 605 million).

JYSK (pronounced YOOSK) is rapidly becoming the UK and Ireland’s go to destination for high quality, on trend products for the home and garden, competing with big established brands in the industry to offer unique, affordable and sustainable items. The brand has earnt a worldwide reputation of expertise and knowledge in sleeping culture and specialises in sleeping products created by experts, from mattresses, duvets, and pillows to bedframes and bases. JYSK’s Scandinavian design ethic and stylish approach to interiors has made the brand known and loved across the world.

For further information, please visit jysk.co.uk or join the conversation on Facebook or Instagram.

Source : JYSK

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