The Foschini Group’s year-end financial performance shows online sales contributed immensely to retail turnover. TFG DigitalEconomy OnlineShopping
With strong online demand for all its brands, The Foschini Group’s retail division recorded double-digit turnover growth in the past 12 months, lifting the retailer’s full-year performance.
In the current reporting period, TFG says online retail turnover grew by 11.7% to R4.4 billion, contributing 10.2% to total group retail turnover.“The group delivered a robust post-COVID-19 recovery during the past financial year. The group’s retail outlets delivered a strong trading performance as economic activity resumed in the wake of reduced restrictions on movement and travel,” says TFG.
TFG’s group revenue rose 29.7% to R46.2 billion, and the retailer declared a final dividend of 330c per share.
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