JYSK Bulgaria posts record-high turnover, EBIT in FY 2021/2022

JYSK Bulgaria's turnover surged by 141% on the year to 504.8 million levs in the fiscal year to end-August, the company said in an emailed financial statement.

Sales were particularly high, over 25% year-on-year, in the furniture, mattresses and bedding categories, JYSK Bulgaria noted.

Over the past fiscal year, the company opened five new stores in Bulgaria, bringing their total number to 48.

In 2023, JYSK is planning to inaugurate six more stores in Bulgaria and renovate seven existing ones.

The furniture retailer announced earlier this month that it will start serving the Turkish market next year, where it will be shipping from its expanded distribution base in Bozhurishte, near the capital Sofia. Entry into Turkey is planned for spring 2023.

JYSK, which entered the Bulgarian market in 2005, employs 700 staff in the country.

The parent company also posted record-high pre-tax profit in the most recent fiscal year, of 612 million euro on turnover of 4.87 billion euro, with operations in 48 countries.

(1 euro = 1.95583 levs)