Ilva faces millions in operational losses despite revenue growth

Danish furniture chain Ilva has increased its revenue to over 1.4 billion Danish kroner, a three percent growth from the previous year. However, the company faced operational challenges, reporting a loss of 45 million kroner, compared to a 27.6 million loss the year before. CEO Kim Møller Mønster attributed these difficulties to uncertainties and inflation affecting the industry but expressed optimism about market stabilization. Mønster, who began his role in April, is leading a new strategy focussing on digitalization and strengthening the physical store concept, aiming to provide a seamless customer experience. Although the strategy currently affects the bottom line, details on the net result have not been disclosed. Ilva operates 40 stores across Denmark and five in Sweden, and is owned by Lars Larsen Group.