Skip to main content

Turnover sets new record in JYSK

Date: 15/09/2022

Author: Martin Fyn Aamand, Communications & PR Manager, JYSK

Category: Sales Growth

With a growth of 11 percent, the total turnover for the financial year 2021/22 sets a new record in JYSK, even though a long list of global factors have challenged the business.

FY22 in numbers

  • Increase in turnover of 11 percent to DKK 36.2 billion.
  • Growth in number of customers by 7.7 million.
  • Opening of a total of 135 new JYSK stores across Europe.
  • Extraordinary permant closure of a total of 30 stores in Russia, Belarus and Ukraine.

Rising inflation. Increasing costs. War in Europe.

Like many other companies, global factors have also challenged JYSK in the financial year 2021/22, which was just closed by the end of August.

In spite of the challenges, customers continue to choose shopping in one of JYSK’s more than 3,100 stores covering 48 countries across the world. JYSK’s webshops have also received many visit.

In total, the turnover in JYSK has grown by 11 percent and ended at DKK 36.2 billion. An increase that Jan Bøgh, President & CEO in JYSK, is happy with.

”With a very special year behind us, we have delivered a good result on turnover. Our dedicated employees are especially the cause of this, and we are also happy that our customers still think that JYSK has a great offer for them. That has not become less relevant in a world where people really need to prioritise what to spend their money on,” he says.

Jan Bøgh
Jan Bøgh, President & CEO in JYSK.

More customers in stores

Especially during the summer, JYSK’s business has come under pressure, as smaller purchases and fewer customers have an impact due to the rising inflation. All in all, the number of customers has nonetheless grown by 7.7 million.

”We are clearly experiencing that consumers have started to hold back a little. The growth in both turnover and number of customers was larger before summer. A part of the extra customers are also returning customers from before the coronavirus crisis with many temporarily closed stores, so they are not all new customers. On top of that, our costs are rising, so it is safe to say that the global situation is affecting us,” says Jan Bøgh.

During the financial year, JYSK extraordinarily had to permanently close a total of 30 stores in Russia, Belarus and Ukraine.

Continued investments in the future

Despite the many challenges, JYSK is not planning to decrease investments.

”We will continue our investments in the business at an unchanged level, because growth is a part of our DNA. We are about halfway done with the rearrangements of our existing stores to the newest and successful store concept, and we have opened 135 new stores in the past year. Both things are positively received by customers, and that increases our sales,” explains Jan Bøgh.

Store employeeBelief in strong business model

Jan Bøgh is optimistic about the future, even though the big crystal ball to predict the future has by now been placed on the shelf.

“We are living in an uncertain world, so after the lockdowns and a new war in Europe, I have stopped predicting too much about what is going to happen. However, we believe that we have a strong business model, and we have previously done well during financial crisis and cautious consumers. I am convinced we can do so again,” he says.

On Thursday 24 November, JYSK will publish their annual report, in which the development in earnings will also appear.

 

Latest news

Team store 50 outside the store

Belgium reaches milestone of 50 stores

06/10/2022 - In April 2017, JYSK opened its first two stores in Belgium with a goal of reaching 50 stores. Just five years later, it is time to set a new goal as store number 50 has now opened in the city of Bilzen.

JYSK Map

New JYSK stores October 2022

01/10/2022 - JYSK keeps expanding with new stores every month. Read here to see where and when we will open this month.

Bring Dedication campaign results

“Bring Dedication” reached more than 53 million people

29/09/2022 - The campaign Bring Dedication reached more than 53 million people and gained over 25,000 registers on the campaign page.

Add comment

Remember to keep a nice tone :)

About JYSK

Careers

JYSK Head Office