The Foschini Group nine months sales grew by 14.5%

Foschini

The Foschini Group has released its sales update for the nine months ended 24th December, 2016 showing that its sales for the period rose by 14,5% year on year.

The company said in a SENS announcement that Christmas trading was above expectation with TFG Group sales growth for
December (27 November 2016 to 24 December 2016) of 14,6%. Growth for TFG International was 47,9% in GBP and growth for TFG Africa was 11,5% with same store growth of 5,6%.

Also, the Foschini Group said growths in the various merchandise categories for TFG Africa were as follows:

  • clothing 12,8% (same store growth 6,0%);
  • homewares 10,4% (same store growth
    3,2%); cosmetics 5,4% (same store growth 2,3%);
  • jewellery 2,1% (same store
    growth 0,1%) and
  • cellphones 15,8% (same store growth 12,0%).

Cash sales growth for TFG Africa for December was 17,7% and credit sales grew by 5,2%.

TFG Group sales for the 9 months to 24 December 2016 increased by 14,5%. TFG International continues to perform in line with management’s expectation, with turnover growth of 47,8% in GBP. Growth for TFG Africa was 9,7% with same store
sales growth of 3,7%. Growths in the various merchandise categories for TFG Africa for the 9 months to 24 December 2016 were as follows: clothing 10,3% (same store growth 3,7%); homewares 7,6% (same store growth -2,1%); cosmetics 2,9% (same store growth 0,0%); jewellery 3,3% (same store growth 1,0%) and cellphones 16,8% (same store growth 12,5%). Cash sales growth for TFG Africa for the 9 months to 24 December 2016 was 17,4% and credit sales grew by 2,7%.

The Foschini Group said merchandise inflation for the 9 month period in TFG Africa averaged 8,5%. This sales update has not been reviewed or reported on by the company external auditors.

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