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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
    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

    Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.

    Go to: https://www.reuters.com/
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