December 12 (SeeNews) - The Bulgarian unit of Danish bedding and furniture retailer JYSK said on Thursday that it has opened its ninth store in Sofia - its 30th in the country.
The new store, located in Sky City shopping centre, will create ten jobs, JYSK Bulgaria told SeeNews in a statement.
The company plans to open four stores in Sofia within a very short term, Alexandru Bratu, country manager JYSK Bulgaria and Romania, told SeeNews in April. The company's strategy envisages having an average of five stores in Bulgaria's largest cities, he said.
JYSK Bulgaria's profit before taxes fell by an annual 11% to 4 million levs ($2.3 million/2.0 million euro) in the fiscal year 2019 ended August 31, while turnover rose by an annual 27.5% to a record 59 million levs.
The drop in the company's profit can be attributed mainly to increased capital expenditure, it said. JYSK opened six new stores in Bulgaria in its fiscal year 2019 - in the cities of Vidin, Ruse, Montana, Dimitrovgrad, Gabrovo, and Sofia.
JYSK entered the Bulgarian market in 2005 and currently operates stores in 18 cities in the country, employing about 500 people.
(1 euro = 1.95583 levs)