The Foschini Group news and archive

TFG eyeing 100 store closures amid more subdued year

The Foschini Group (TFG), the parent company of Hobbs, Phase Eight, and White Stuff, is planning to shutter 100 underperforming stores as it anticipates a “more subdued year” ahead. In an interview with the Sunday Times, the South African company’s chief executive, Anthony Thunström, said around 300 underperforming stores had been identified...

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South Africa’s TFG reports 19.6 percent rise in turnover

For the year to March 31, 2019, The Foschini Group (TFG) reported retail group turnover growth of 19.6 percent compared to March 2018 with turnover growth of 8.9 percent for TFG Africa, 31.3 percent for TFG London and 58.3 percent for TFG Australia. Including comparable numbers for Hobbs (TFG London) and RAG (TFG Australia) acquired during the...

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TFG reports upbeat sales growth in December

South African retailer The Foschini Group (TFG) has reported a 31 percent increase in December sales after its recent acquisition of Britain’s womenswear label Hobbs, reports Reuters Africa. The group had earlier acquired two other UK-based businesses including Phase Eight in 2015 and high-street fashion retailer Whistles in 2016. The company...

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Troubled Foschini Group seeks shelter within childrenswear

South African clothing retailer The Foschini Group (TFG) keeps looking for new areas of growth that help them offset a series of backslashes. Now, the fashion group is planning two chains of stores aimed at children. As announced by Chief Executive Doug Murray in a conference with reporters on Wednesday, the South African retailer will open its...