South African fashion powerhouse, The Foschini Group (TFG), has reported an increase of 4.6% in its annual earnings for the financial year ending March 31, 2025. This growth comes on the back of stronger sales in the African market during the second half of the year, more store openings, and a key acquisition of UK-based fashion chain, White Stuff.
TFG, a well-known name in the fashion retail business, saw its headline earnings per share grow from 9.707 rand in the previous year to 10.15 rand (approximately $0.57). The group also posted a record gross profit of 28.8 billion rand (about $1.62 billion), which is a 6.7% rise. Total group revenue went up by 4.1% to reach 62.6 billion rand, while retail sales increased by 3.6%.
The second half of the year was especially strong for the company. After a slow start, retail sales picked up by 8.7%, recovering from a 2% drop in the first six months. TFG says this was helped by expanding its store network in different regions, including new locations across Africa, the UK, and Australia. The acquisition of UK fashion and lifestyle brand, White Stuff, also played a big role.
In South Africa and the rest of Africa, sales improved by 7% in the second half, compared to a small drop of 0.1% in the first half. This means the full-year sales in TFG Africa rose by 3.7%, showing that customers are slowly coming back to stores as the economy begins to stabilise.
TFG is also pushing forward in the digital space. The company’s online sales now make up 12% of total sales. This was driven by the success of its Bash e-commerce platform, which surprisingly became profitable two years earlier than expected. TFG’s Chief Executive Officer, Mr. Anthony Thunström, called this “a very likely unique achievement in the South African retail space.”
The UK market also delivered good results for TFG, thanks to the purchase of White Stuff. The fashion label, which was started in 1985, added 16.4% growth in annual sales in pound sterling terms. White Stuff operates 113 stores and 46 store-in-store setups (called concessions) across the United Kingdom and other parts of Europe. Most of its income—about 85%—comes from its physical shops and online platform. TFG bought the company for around £51.7 million (R1.2 billion). With this, TFG is looking to expand its brand reach and bring more variety to its customers in the UK and Europe.
In Australia, however, things were not as rosy. TFG’s business in the region struggled with high inflation and interest rates, which made consumers cut back on spending. This affected overall performance there, even though the company tried to maintain its presence.
Despite the mixed performance in some markets, the group announced a final dividend payout of 230 cents per share. This shows that the company remains confident in its long-term strategy and ability to deliver value to shareholders.
TFG, which owns a wide range of clothing and homeware brands such as Foschini, Markham, Fabiani, Exact, and @home, is banking on a blend of online growth and physical store expansions to stay ahead of competitors. With a strong foothold in three major regions—Africa, Europe, and Australia—the group says it is ready to continue investing and expanding, even as global retail trends keep changing.
Analysts say the combination of digital innovation, bold acquisitions, and strategic retail expansion will likely keep TFG in a solid position within the fashion retail industry.
