Jysk, the Danish home retailer which opened its first stores in the Republic last year, remains on track to have 20 outlets open locally by the end of next year.
The furniture seller, which currently has eight physical stores open across the State, and one in Dublin officially opening next week, said while it has been impacted by Covid restrictions it had recorded positive earnings before interest and taxes (ebit) in Ireland during its first year.
Jysk Ireland, which merged with the group’s UK business over the summer, does not breakout figures for the Irish market.
The retailer said combined British and Irish sales, reached €4.1 million for the 2019-2020 financial year. This marks a 74 per cent versus the previous year. The company has 21 stores in Britain, having opened its first one there in 2018.
JYSK, which in total operates more than 2,900 stores in 51 countries, announced record global turnover of €4.1 billion.
The group which employs 112 people locally, plans to take on up to 150 more employees over the next 12 months as other stores open.
Roni Touminen, country manager for Britain and Ireland, said the group intends to “aggressively continue with its expansion plans” over the next 12 months.
“We had a really good start to the year and despite the Covid crisis have still had a positive result which we are really happy about,” he told The Irish Times.
“This gives us the confidence to continue with our expansion plans. We are currently looking at a dozen sites that we are actively trying to get sorted but this has been difficult to do because of the pandemic. But our goal is to have at least ten stores open by the end of next year,” he added.
Mr Touminen said JYSK, which opened its first store in Naas, Co Kildare, in April 2019, said the company had benefitted from consumer pent-up demand following the lifting of restrictions over the summer and he added its online store had seen a huge hike in sales. However, this he said had led to logistical challenges as well as financial ones for the company.
He said he was happy that JYSk had been able to retain staff despite the Covid crisis and is optimistic about the retailer’s future here.
“The upcoming weeks are important to us and we have been preparing for the lifting of restrictions and welcoming customers safely back into our stores and I think that next year will be a very good one for us,” Mr Touminen added.