| Imagery Source: Moneyweb |
| Information Source: JSE SENS |
| The Foschini Group |
| This trading update relates to the three-month year-to-date period from 1 April 2025 to 28 June 2025 ("Q1 FY2026" or “the period”) viewed against the comparative 13-week period from 1 April 2024 to 29 June 2024 ("Q1 FY2025”). |
| SALIENT FEATURES |
- Group sales grew by 11,5% for Q1 FY2026 to R14,4 billion;
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- Group online sales grew by 45,5% in Q1 FY2026, now contributing 14,5% to total retail sales (Q1 FY2025: 11,2%), with the acquisition of White Stuff. TFG Africa online sales grew by 40,2% driven by our Bash platform; and
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- Market share gains in South Africa (“SA”) of 50bps were achieved during the period compared to Q1 FY2025 in the TFG Africa segment, as the Group outperformed total market retail sales growth according to the Retail Liaison Committee (“RLC”).
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| OUTLOOK |
| Global and domestic business conditions have been volatile due to uncertainty surrounding proposed trade tariffs, hindering broader economic recovery and resulting in subdued GDP growth of just 0,1% for Q1 2025. |
| In TFG Africa, we remain confident in our ability to sustain gross margin and control costs. H1 is expected to be particularly challenging given the slow June trade, inconsistent trends and a promotional winter in SA. We expect to open over 100 new stores in FY2026, while continuing to optimise our existing store portfolio. For the three weeks ended 19 July 2025, TFG Africa’s sales have increased by 9,2%. |
| While the UK economy remains under pressure, we are encouraged by the continued strong performance of White Stuff. Sales growth was 68,8% (in GBP) for the three weeks ended 19 July 2025. Excluding White Stuff, sales growth is 6,3%^. |
| In Australia, sales have contracted by 4,1% (in AUD) in the three weeks ended 19 July 2025. Although trading conditions remain challenging, the economy appears to be stabilising with two quarter-per-cent interest rate reductions in recent months. |
| ^ Pro forma management account numbers used to calculate an indicative sales growth |
| The underlying information used in the preparation of the pro forma financial information has been prepared by consistently applying the accounting policies in place for the year ended 31 March 2025. |
| Shareholders are advised that none of the financial information contained in this announcement, including forecasts or estimates, has been audited, reviewed or reported on by the Group's external auditors. |
| For the full document, click the link below |
| The Foschini Group |
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