Dieketseng Maleke dieketseng.maleke@inl.co.za Both JSE-LISTED retailers The Foschini Group (TFG) and Truworths on Friday reported stronger sales performances and growth in the quarter to end-December.
TFG’s shares closed 4.19 percent higher to R136.21 after the clothing, homeware, and jewellery retailer reported a strong performance.
The company attributes post-Covid-19 recovery, global vaccine drive and the easing of lockdown restrictions as some of the reasons that led to the stellar results.
On Friday it reported a turnover growth of 17.3 percent, compared to the same period in 2020.
“The majority of the group’s outlets delivered strong trading performance as economic activity resumed,” TFG said.
The group – whose 29 brands include Markham, Jet, @home, American Swiss, Sterns, and Totalsports – said its Homeware sales rose by nearly 33 percent,…