TFG: 16,346 -120 (-0.73%)
South Africa's TFG reports annual sales up almost 20%
JOHANNESBURG, May 23 (Reuters) - South African retailer The
Foschini Group (TFG) reported a 19.6% rise in retail
annual sales on Thursday as all three of its businesses
performed well and online turnover jumped by 57.2%.
"Against a backdrop of tough trading conditions and in an
environment where the retail sector is facing significant
disruption, all three business segments produced strong turnover
growth in relation to their respective markets," Chief Executive
Officer Anthony Thunström said in a statement.
Group retail sales for the year ended March 31 rose to 34.1
billion rand ($2.36 billion) from 28.5 billion. Online sales
accounted for 8.8% of group turnover.
The retailer, which sells clothes, jewellery, homewares and
furniture, declared a final dividend of 450 cents per share, up
($1 = 14.4438 rand)
(Reporting by Nqobile Dludla; editing by Jason Neely)
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