The Danish furniture and home furnishings brand has announced record results in the UK & Ireland during the financial year 2019/2020.
Total sales for the company have reached €41M, an increase of 74 per cent on 2018/2019. Despite a challenging year for the retail market with forced store closures during lockdown periods, over 860,000 customers in the UK & Ireland chose to shop at the Scandinavian retail chain to improve everyday life in their homes, confirming a UK-wide trend that has seen homewares sales soar.
With shopping choices limited, many customers turned to e-commerce; almost a quarter (24 per cent) of JYSK’s total annual orders were made online. This sudden increase meant that capacity at warehouses and distribution companies were stretched due to lack of warning of store closures and minimal time to prepare for the shift to online orders. The company rapidly responded to keep up with the demand and, as a result, is pleased to announce there were no redundancies or staff layoffs despite store closures as a result of the pandemic.
In the face of these challenges, JYSK is therefore delighted with its record results. Country Manager JYSK UK & Ireland, Roni Tuominen said: “Whilst it has been a tough year for retail in many ways, we are very pleased with the results announced today. In Ireland, we were able to contribute positive EBIT after just one full financial year. Whilst the EBIT result is not yet at our target levels, to be able to achieve this positive result alongside the significant level of investment and expansion we have done is quite remarkable.”