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TFG posts higher Q4 sales on Jet acquisition boost
South African fashion retailer TFG reported turnover growth of 21% in the fourth quarter ended March, aided by the contribution of recently acquired budget clothing retailer Jet, it said on Friday.
A shopper walks past a Foschini store at a shopping centre in Lenasia, south of Johannesburg, August 28, 2013. Reuters/Siphiwe Sibeko
Excluding Jet, turnover for the quarter from January to March grew by 6% compared to the same period a year ago, the retailer said.
TFG bought Jet in September from struggling department chain owner Edcon after it filed for business rescue earlier last year.
Source: Reuters
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