The turnover for JYSK increased by 7.6 per cent reaching DKK 41.4 billion (EUR 5.6 billion) for the financial year 2023/24. At the same time, the number of new customers increased with 11.9 million driven by great offers within Scandinavian sleeping and living.
Although global uncertainties and unrest continued during the financial year 2023/24 (FY24), JYSK invested in lowering its already competitive prices on over half of its popular quality products and include even more products in its 'Everyday Low Price' assortment. This resulted in an increase of 11 per cent in the number of units sold.
JYSK also set a new customer record with 11.9 million new customers shopping in one of the more than 3,400 JYSK stores across 48 countries compared to the year before.
Photo: Dreamstime.
New stores and a new country
During FY24, JYSK continued its expansion and announced plans for opening its first stores in Morocco in the spring of 2025. JYSK also opened 137 new stores and on top of this, JYSK invested in 489 store activities which included relocations and enlargements of existing stores and updates to the newest store concept 3.0.
In FY24, JYSK's biggest market, Germany, doubled its number of new customers and delivered an increase in turnover, despite closing 21 stores as part of finalising the project One JYSK, which merges JYSK Nordic and Dänisches Bettenlager into JYSK. The stores that were closed were either too small for the popular 3.0 store concept or there was another JYSK 3.0 store close by.
Investments in growth continue
To meet the growing number of customers and JYSK stores, JYSK is investing in two new state of the art distribution centres. Construction of the first one in Lelystad in the Netherlands started during the summer and will be certified according to the international sustainability standard LEED. It spans 147,000 square metres and has two high bays with room for 166,000 pallets. It is placed in Lelystad to reduce the driving distance to the stores in the Netherlands, Belgium, UK and Ireland and containers can be brought via a barge very nearby.
The other state of the art distribution centre will be built in Almenara in southern Spain and will replace the current distribution centre near Valencia. The new distribution centre will be very similar to the one in the Netherlands and will service the more than 150 stores in Spain, Portugal and Morocco.
'With our two new distribution centres 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,' says Rami Jensen.
More information:
Jysk
www.jysk.com