Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Boost in sales at The Foschini Group

South African retail business The Foschini Group (TFG), which owns Phase Eight, Whistles and Hobbs in the UK, has reported a 19.6% rise in retail sales to $2.36bn (£1.86bn) for the year ended 31 March.  

TFG owns 28 retail brands across three business segments: TFG London, TFG Africa and TFG Australia. All three delivered “strong turnover growth” during the year despite tough trading conditions, Reuters has reported.

Across the group, online turnover jumped by 57.2% and now accounts for 8.8% of the total. TFG is investing $35m (£27.6m) in technology to adapt to the rise in online shopping.

The retailer has started rolling out radio-frequency identification (RFID) technology to keep better track of inventory and to re-stock clothing racks more quickly in stores. The technology can also be used to see how many store visitors make a purchase.

TFG will also increase stock availability by shipping clothes from bricks-and-mortar stores.

CEO Anthony Thunström said: “Against a backdrop of tough trading conditions and in an environment where the retail sector is facing significant disruption, all three business segments produced strong turnover growth in relation to their respective markets.”

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.