The financial year 2018/19 offered new records for JYSK Nordic, where turnover amounted to 2.35 billion EUR.
A lot is happening in retail these years.
But a great offer, combined with skilled employees and the ability to put the customer in focus, both online and in the physical stores, is still the recipe for success.
That is at least the case for JYSK Nordic, where revenue in the most recent financial year grew by 9 percent to 2.35 billion EUR. At the same time, JYSK Nordic opened 96 new stores, and the number of customers increased by 3.5 million compared to the previous year.
“Overall, I am pretty satisfied. Revenue has increased with nine percent, despite the fact that the currencies have been slightly against us. At the same time, we have shown that we are still able to attract lots of new customers both in our stores and online,” says JYSK CEO & President, Jan Bøgh.
Online sales in JYSK now account for seven percent of total sales, and according to Jan Bøgh, JYSK's ability to develop both the physical stores and the online business is a decisive reason for the success.
“We have invested and continue to invest heavily in making it easy for customers to switch between physical stores and online. We have come a long way, but there is still much more to be done, and we will continue to do so in the new financial year, where it plays a major role in our strategy,” says Jan Bøgh.
Another thing that will be in focus in the financial year that has just begun is the merger between the two business units JYSK Nordic and Dänisches Bettenlager, which together have formed JYSK Group.
From 1 September this year, the two business units were merged into one under the name JYSK and with Jan Bøgh as CEO & President of the combined company.
“It is always a big task to merge two units with different workflows, IT systems and so on. On the other hand, we have very talented employees and everyone has been positive about the task. Therefore, I also have no doubt that the result will be a stronger JYSK,” says Jan Bøgh.
The total revenue and the result for the entire JYSK will be published in November.
The financial year 2018/19 from 1 September 2018 to 31 august 2019.
- Turnover: 2.35 billion EUR
- Growth in turnover: 9 percent
- New stores: 96
- Online sales: 7 percent
- Growth in customers: 3.5 million
JYSK is an international chain of stores with Scandinavian roots that sells everything for the home. The first store opened in Denmark in 1979, and today JYSK has over 2,800 stores and 23,000 employees in 52 countries. In Germany and Austria the stores are called Dänisches Bettenlager – in the rest of the world JYSK. JYSK is owned by the family behind Lars Larsen Group, which in the financial year 2018/19 had a total annual turnover of 4.25 billion EUR. JYSK's annual turnover was 3.58 billion EUR.