Retailer JYSK to Open More Stores in Greece in 2024
Home equipment chain JYSK said that it will continue its expansion in Greece in 2024, with plans to open several new stores in cities where there is not already a JYSK store.
The announcement came following the excellent results of JYSK Greece in its turnover for the financial year 2022/23 (September 1 to August 31). JYSK Greece reached 100 million euros and saw an EBIT result that exceeded 13.5 million euros.
According to JYSK, its Greek branch has ambitious development plans for 2024 that includes the opening of new stores, while several existing stores will be renovated according to the latest store concept 3.0.
Operating for the last eight years in Greece, JYSK has 57 stores and over 500 employees in the country, having developed a network of 22 stores in Athens, 2 in Thessaloniki and 33 in other Greek cities.
“I am very proud of the results that the JYSK Greek team managed to achieve in the previous financial year,” Sandor Szimeiszter, Country Director of JYSK Greece, Hungary and Austria, said.
According to Szimeiszter, the increase in the number of customers who visited JYSK stores in Greece shows the interest of a growing segment of Greeks that are looking for ways to furnish, decorate, renovate and generally make their homes more beautiful.
“Now our goal is to open even more stores in order to bring this successful commercial proposition closer to even more of our customers in Greece,” he added.
JYSK is an global home furnishing retailer with Scandinavian roots and with more than 3,300 stores and webshops in 48 countries.
JYSK delivers strong financial results
Although the financial year 2022/23 (FY23) was a challenging one for JYSK as inflation continued to rise, keeping operational costs up and affecting consumer buying power, the global home furnishing retailer continued its expansion plans and welcomed over 1.2 million new customers to its stores despite the slowdown in the global retail market.
JYSK invested in very competitive prices and great offers for the customers on cornerstones of the business, such as garden furniture, and increased its turnover by 6.3 percent to DKK 38.5 billion for FY23 (5.2 billion euros).
EBIT decreased 13.2 percent to DKK 3.96 billion (531 million euros) compared to the year before, partially due to weak currencies affecting some of JYSK’s biggest countries.
JYSK opened 135 new stores in FY23 including its first stores in Türkiye.
“Our expansion plans continue without slowing down. We plan to open at least as many stores next financial year, and we want to get even closer to our customers to ensure that we stay top of mind and relevant for their shopping needs within home furnishing,” said JYSK President & CEO Rami Jensen.