Foschini boosts sales
RETAILER NEWS
Fin24 - Jan 20th, 11:54
Johannesburg - The Foschini Group [JSE:TFG] on Wednesday reported sales growth for the December period - from November 27 to December 31 - of 17.3% and same store growth of 11.4%, notwithstanding the high sales growth base in the corresponding prior period of 22.5%.
"Compared to the corresponding period last year (September 26 2010 to January 1 2011), group sales for the three months October to December 2011 (September 25 2011 to December 31 2011) increased by 17.2%, whilst sales for comparable stores increased by 11%," it said.
Merchandise inflation for the period averaged 6%.
"Our retail debtors' book continues to be well managed, with collections in line with management expectation," the group said.
Related Retailers
 | The Foschini GroupThe Foschini Group (TFG) is an investment holding company operating in the retail and financial services segments within southern Africa. The Group trades primarily in South Africa with retail turnover emanating from Botswana, Swaziland and Namibia a...Click here to read more about The Foschini Group |
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