Europe's Jysk Group has reported another record year, achieving a turnover of €3.577b and an EBIT result of €474m.
Jysk has also invested heavily in additional stores, an expanded distribution network and new ecommerce solutions. At the end of its FY17/18 (31st August 2018) the group operated through 2668 stores and employed 23,000 people across 50 countries.
"It is very satisfying that we once again manage to break records in Jysk. This confirms that it is still the right strategy to invest in physical stores and continue to get closer to customers in all the countries where Jysk is present today," says Lars Larsen, the group's founder and chairman.
In order to secure goods to all countries, Jysk has invested in the expansion of the company's distribution centre in Uldum, Denmark, and a new distribution centre will be inaugurated in Bulgaria next June.
"It requires a huge set-up to get all our products to so many stores in so many different countries, and the task has not become easier over the years as customers today expect to get their goods right away. Therefore, our new distribution centre in Sofia means a lot as we will be able to deliver much faster to stores and customers in the Balkan countries and Greece," says Lars.
Furthermore, the preparations for the opening of the first stores in Ireland are well under way. Ireland is the last major country in Europe where Jysk does not yet have stores, and Lars looks forward to participating in the opening on 2nd April – also the 40th anniversary of Lars himself opening the world's first Jysk store in Denmark.
"With the stores in Ireland, Jysk plants the last flag on the European map when it comes to larger markets. In recent years, we have seen positive sales growth in the UK, and we expect a lot from the Irish market. Not necessarily from day one, but with patience we will also be successful in Ireland," says Lars.