Danish furniture retailer Ilva continues its business transformation as stores become smaller. The company reported its third consecutive year of operating losses despite revenue growth. Ilva posted an operating loss of 43.8 million Danish kroner for the latest financial period. This represents a slight improvement from the previous year's 45 million kroner loss. Revenue increased by 20 million kroner to reach 1.44 billion kroner. CEO Kim MĂžller MĂžnster acknowledged the disappointing results but highlighted positive signs. "We are not satisfied with the bottom line, but we note clear progress in the second half," MĂžnster said in a statement. The company's new strategy focuses on reducing store sizes across its network. Twenty-seven Ilva stores will either shrink their existing space or relocate to smaller nearby properties. Some locations have already closed during this restructuring process. The furniture market in Denmark remains competitive with several major players. Ilva's ongoing losses suggest the company still faces challenges in adapting to changing consumer habits. The store downsizing strategy reflects broader retail trends toward more efficient physical footprints.
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4 days ago
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BusinessDanish Furniture Chain Ilva Reports Third Straight Year of Operating Loss
Danish furniture retailer Ilva reports its third straight year of operating losses despite revenue growth. The company is shrinking stores as part of a major business transformation. CEO acknowledges disappointing results but sees progress in the second half of the year.
