TFG - December 2018 trading update
TFG consolidated turnover increased by 8.3% for the December 2018 trading month, compared to the December 2017 trading month, with solid performances across all business segments. These are now all included on a fully comparable basis for the December month.
TFG Africa turnover growth for the December trading month, coming off a high base in the previous December, was 7.2% (same store turnover growth of 4.2%) with growth of 10.2% in clothing (same store turnover growth of 7.0%), 7.5% in homeware & furniture (same store turnover growth of 1.9%), -4.8% in cosmetics (same store turnover growth of -4.8%), 0.0% in jewellery (same store turnover growth of -0.2%) and -7.5% in cellphones (same store turnover growth of -8.1%). Cash turnover grew by 6.5% and credit turnover growth was 8.2%. TFG London turnover for the trading month of December, grew by 4.7% in GBP while turnover in TFG Australia grew by 16.5% (AUD).
Nine month trading update
TFG consolidated turnover for the nine months to 29 December 2018 increased by 22.7% with turnover growth of 9.5% in TFG Africa (same store turnover growth of 6.3%), 42.0% (GBP) in TFG London (3.5% comparable) and 78.7% (AUD) in TFG Australia (15.6% comparable). These growths were underpinned by strong Black Friday trade as well as strong December trade across all the business segments. The impact of Black Friday, in pulling forward what would have traditionally been December sales, is becoming more pronounced, especially in certain merchandise categories such as cosmetics and jewellery.
Turnover growths in the various merchandise categories for TFG Africa were as follows: clothing 12.2% (same store growth 8.8%); homewares 8.4% (same store growth 3.8%); cosmetics 1.2% (same store growth 0.9%); jewellery 3.6% (same store growth 2.4%) and cellphones -1.8% (same store growth -3.0%). Cash turnover growth was 10.6% and credit turnover grew by 8.1%.
Merchandise deflation for the nine-month period in TFG Africa averaged approximately -4%.