JYSK's global turnover grew by +7.6% in FY24, reaching DKK41.4b (€5.6b), the retail group reports. At the same time, the number of new customers increased, with 11.9 million more people seeking out JYSK's Scandinavian sleeping and living products YoY.
Despite continued global unrest during the period JYSK invested in lowering its already-competitive prices on over half of its popular products, including even more items in its Everyday Low Price assortment – which resulted in an increase of +11% in the number of units sold.
“Our financial year had a challenging start with low sales, but with our focus on competitive prices and our quality products we succeeded in setting yet another turnover record for JYSK," says president and CEO, Rami Jensen. "We also significantly increased the number of customers in our stores in all our countries and online while continuing to gain market shares.”
During FY24, JYSK announced plans to open its first stores in Morocco in spring 2025, and opened 137 new stores. It also invested in 489 store activities which included relocations and enlargements of existing stores and updates to the newest store concept, 3.0.
JYSK’s saw Germany, its biggest market, double its number of new customers and increase in turnover, despite the retailer closing 21 stores as part of finalising the project One JYSK, which merges JYSK Nordic and Dänisches Bettenlager into JYSK.
“We say it often, and it still holds true – expansion is an integral part of our DNA, even though we have closed a number of stores as part of finalising One JYSK," says Rami. "We want to ensure that we continue to be profitable while we grow both outside of Europe and in our existing countries within Europe to reach our overall goal of 5000 stores with great Scandinavian offers within sleeping and living. I am very satisfied that overall, the number of JYSK stores and customers continue to increase each year.”
To meet the growing number of customers and stores, JYSK is investing in two new DCs centres. Construction of the first, in Lelystad in the Netherlands, started during the summer, and promises to reduce the driving distance to stores in the Netherlands, Belgium, UK and Ireland, while containers can be brought via a barge nearby.
The other DC will be built in Almenara in southern Spain, and will replace the current one near Valencia.
“With our two new DCs we will be able to further strengthen our global logistics setup, so we continue to deliver great offers on Scandinavian sleeping and living to our growing number of customers and when we expand to new countries,” Rami concludes.
