Interiors chain JYSK saw its UK operation move into profit as sales leapt.
Helped by store openings sales jumped 67% to €68.9m for the UK and Ireland, with EBIT profits up 740% to €8.3m.
Full-time staff will receive a bonus of £2,397 (€2,539). Customer numbers jumped almost a third to 1.1million.
‘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 organisations 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,’ says Roni Tuominen, JYSK UK & Ireland country manager.
‘It was also a great privilege to be able to implement our Industry leading retail reward scheme. 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.’
A further 14 stores are planned this financial year. ‘We are very confident in both the UK & Ireland markets, 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.’
