The retailer's portfolio consists of 14 trading brands, ranging from fashion, jewellery, accessories, cosmetics, sporting and outdoor apparel and equipment to homeware and financial services.
In a trading update, TFG said that for the first five months of this financial year total sales had grown by 17.3% over the previous period with same stores sales growth of 10.5%.
"Particularly pleasing is the growth in clothing of 18.7%, while cellphone sales grew by 28.1% and homeware by 15.4%. Jewellery sales increased at a lower rate of 6.2% which is to be expected in the current economic environment," Foschini said.
In September at the group's AGM, CEO Doug Murray said he expected the "more positive" consumer sentiment to continue in this financial year, but was mindful of the current inflation environment, the potential impact on interest rates and the current fragility of international markets.
Positive sentiment sparked by the 2010 FIFA Soccer World Cup and above-expectation Christmas sales saw the Foschini boost profit by 19.6% for the year ended March 2011, while retail turnover increased by 15.5% to R9.9-billion.
With more than 60% of sales derived from credit, the group has benefited from decades-low interest rates as South African consumers regain their appetite to spend, despite high unemployment and debt levels.
Last month, TFG announced that it had bought luxury menswear brand Fabiani for an undisclosed amount, giving it entry into the high wealth customer segment that only a few of its brands currently tap into.
Ronnie Stein, TFG's CFO said the group would add value to the Fabiani brand by providing online shopping, in-store credit, launching gift cards and optimising supply chain benefits.
"We believe that Fabiani, which currently trades out of seven upmarket outlets, has great potential for expansion," said Stein.
The group's results for the six month period ended 30 September will be released on 3 November.
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