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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.

14 May 2021

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.

Credit: Blue Route Mall

TFG takes over 382 Jet stores in SA - saving 4,800 jobs

28 Sep 2020

Source: Reuters

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Source: Reuters.

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