Staff Writer
Foschini Group Limited (TFG) reported higher sales in its Africa business in the fourth quarter of the 2026 financial year to date.
TFG said sales in TFG Africa rose by 7.6% compared to the same period last year. The company said this reflects improved trading and the impact of the dissipation of the previous year’s two-pot retirement fund release.
Year-to-date sales in TFG Africa increased by 5.2%, supported by growth in online sales and value-added revenues. Gross margins have normalised since January but remain below levels needed to recover losses recorded earlier in the financial year, including during the third quarter peak season.
TFG released the trading update for the period from 28 December 2025 to 14 March 2026, along with an updated trading statement for the 50 weeks ended 14 March 2026, ahead of investor conferences scheduled for the week of 23 March 2026.
In its international operations, TFG London reported a 3.4% increase in sales in the fourth quarter to date in GBP, now including the White Stuff brand. Year-to-date sales grew by 31% in GBP, or 0.4% excluding White Stuff. The company said White Stuff continues to perform well, with pro-forma year-to-date sales growth of 5.2%.
TFG Australia recorded flat sales in the fourth quarter to date, while year-to-date sales declined by 1.4% in Australian dollars.
Looking ahead, TFG said geopolitical uncertainty could lead to higher input costs and more cautious consumer spending. The company said its diversified operations and local manufacturing in TFG Africa provide some resilience. Management remains focused on cost control and operational efficiency.
TFG said it continues to maintain a strong balance sheet, supported by banking facilities and working capital management. Inventory levels in TFG Africa are expected to close the period in a stable position.
