Latest News & Developments
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Foschini Group’s TFG Africa sales were stronger in the first three weeks of January
TFG Africa also plans to expand its store footprint by opening more than 100 new stores in the 2026 financial year, whilst the store portfolio continues to be rationalised to enhance return on capital employed.
TymeBank hits 10 million customers, R7 billion in deposits to become Mzansi’s fastest growing bank in 2024
TymeBank, the digital bank majority owned by South African billionaire Patrice Motsepe’s African Rainbow Capital, has confirmed that it has reached the 10 million customers milestone, as of September.
Here's how much more the average CEO earns compared to a worker
The average unweighted ratio between the total CEO remuneration and the total lowest earner is 597, according to a report.
SA fashion industry welcomes new tax on international online retailers
While this is great news for South African businesses, consumers are unhappy because they will have to pay more than usual for their items.
TFG signs deal to bring UK sports fashion retailer to South Africa
Consumers can expect the launch of JD Sports Fashion stores following a franchise agreement with TFG.
Foschini Group accused of discriminating against black suppliers
The Forum’s chairperson, Kenneth Shupinyane, said they had had enough of the rejection from TFG and other clothing companies who are not prepared to comply with the regulations of procuring local content
TymeBank and TFG partnership reaches 1 million customer milestone
Benefits include free banking, customised personal loans and instalment-based, interest-free shopping.
Foschini Group reports moderate third-quarter increase in sales
The Foschini Group (TFG) grew sales by 4. 5% in the third quarter to December 30 over the same quarter a year before in challenging trading conditions in all the regions where it operates.
Foschini sees record turnover in spite of load shedding and weak economy
The pleasing performance over the six months was in an environment of tough trading conditions and against a comparative high base in the same period a year before due to the resumption of clothing demand after the Covid-19 pandemic.
Foschini profits take a tumble, but the group is hopeful for Black Friday
The Foschini Group’s earnings took a dive after it reported that profits for the first six months ending September 30, 2023 (H1 2024) were down.
TFG launches its first fashion collection from its Sustainable Design Incubator programme
TFG said the market access opportunity provided through Bash was designed to leverage TFG’s more than 30 million customers through the local fashion and lifestyle shopping app.
The Foschini Group to list on A2X Markets next week
A2X provides a secondary platform for companies to list their shares for trade.
Find out the age group that is spending the most in SA at the moment
While the cost of living remains high in the country for consumers, many are looking for ways to cut costs and stretch their rands a little further every month.
TFG shaves off R1. 5bn retail turnover this year hit by load shedding
As a result the retailer was defending its gross margin and was in a consolidation phase as it slows down its store roll-outs and tightens up expenditure.
TFG loses 345000 trading hours over past 11 months. . . and counting
Group estimates load shedding has reduced its TFG Africa's retail turnover by about R1 billion in the 2023 financial year.
TymeBank ropes in TFG to expand its footprint
Bank can now expand its financial products and services to its expanding customer base, both instore and on digital platforms.
TFG resilient in face of load shedding with a lot riding on Black Friday
Its Australian business was a standout performer
Fashion retailer TFG's profit buoyed by local manufacturing, Tapestry deal
The owner of British womenswear brands Hobbs and Whistles and the local Foschini and Markham clothing brand has been bringing garment production closer to home in the past few years.
The Foschini Group trading solidly despite tightening consumer fortunes
The group said it was making progress on its key strategic objectives and speciality brand business portfolio, which remained well positioned for further organic and inorganic growth.
TFG became the biggest client of Tesla Powerwall - what is this new device?
Well it looks like The Foschini Group is a fan of Elon Musk
The Foschini Group share price rises sharply after strong quarterly results
Clothing was up 13. 1 percent and homeware sales increased 17. 4 percent.
Competition Tribunal conditionally approves TFG and Coricraft owner, Tapestry merger
The Foschini Group intends to acquire Tapestry Home Brands. Upon the implementation of the proposed transaction, TFG will exercise sole control over Tapestry.
TFG invests R2. 1bn to build 10 new manufacturing business units in the coming year
The investment in increased manufacturing capacity will more than double employment opportunities in the group’s own factories and strategic non-owned cut-make-trim factories from 5 200 in 2022 to 11 200 by 2026.
TFG says man who defecated in Markham store is not an employee
Social media users were left shocked on Friday, after an image of a man defecating in a Markham store surfaced.
TFG share price leaps as stronger sales expected to drive up earnings by over 400%
Basic earnings per share for the year projected to be at least 240 percent higher, at a minimum of 856 cents per share.