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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, 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.
The average unweighted ratio between the total CEO remuneration and the total lowest earner is 597, according to a report.
While this is great news for South African businesses, consumers are unhappy because they will have to pay more than usual for their items.
Consumers can expect the launch of JD Sports Fashion stores following a franchise agreement with TFG.
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
Benefits include free banking, customised personal loans and instalment-based, interest-free shopping.
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.
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.
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 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.
A2X provides a secondary platform for companies to list their shares for trade.
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.
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.
Group estimates load shedding has reduced its TFG Africa's retail turnover by about R1 billion in the 2023 financial year.
Bank can now expand its financial products and services to its expanding customer base, both instore and on digital platforms.
Its Australian business was a standout performer
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 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.
Well it looks like The Foschini Group is a fan of Elon Musk
Clothing was up 13. 1 percent and homeware sales increased 17. 4 percent.
The Foschini Group intends to acquire Tapestry Home Brands. Upon the implementation of the proposed transaction, TFG will exercise sole control over Tapestry.
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.
Social media users were left shocked on Friday, after an image of a man defecating in a Markham store surfaced.
Basic earnings per share for the year projected to be at least 240 percent higher, at a minimum of 856 cents per share.