Turnover at Ikea rival Jysk jumps following competitive pricing

Jysk's turnover increased by 7.6% to €5.6bn in its most recent financial year, while the number of new customers also increased

Jysk has announced plans to invest in two new distribution centres.

Danish furniture retailer Jysk reported a jump in annual turnover as the company lowered prices despite global volatility.

Jysk turnover increased by 7.6% to €5.6bn in its most recent financial year, while the number of new customers increased.

“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,” said its chief executive Rami Jensen.

Jysk announced plans to invest in two new distribution centres. The first of these is in the construction phase in the Netherlands and will be used to reduce the driving distance to its stores in the Netherlands, Belgium, the UK, and Ireland as containers can be brought via a barge very nearby.

The Ikea rival operates more than 3,400 stores across 48 countries and has steadily grown its presence across the Republic of Ireland in recent years.

"We also significantly increased the number of customers in our stores in all our countries and online while continuing to gain market shares," said Mr Jenson.