TFG closes nearly 200 stores as online sales boom

The Foschini Group, a clothing and fashion retail giant operating in Africa, London, and Australia, has announced the closure of nearly 200 stores as its online sales continue to grow. The company's online platform, Bash, has been instrumental in driving this sales growth. As of the half-year ended September 30, 2026, TFG operates 4,807 stores across its three continents, a decrease from its previous 4,807 stores. TFG's biggest market remains Africa, where the retailer has closed a significant number of stores.

In Africa, TFG has closed 120 stores, largely at lease expiry, which has reduced trading space by 2.6%. The retailer plans to close an additional 60 to 80 stores during the remainder of the year. This reduction in store footprint has led to a decline in sales, with an overall decrease of 0.4% to R29 billion. However, the company's online sales have grown by 53.3%, driven by Bash, which now contributes 10.9% of sales in Africa, up from 7.4% in the same period last year.

TFG's performance has been mixed. While its revenue increased by 0.1% to R31.4 billion, its gross profit declined by 1.3% in rand terms, and operating profit fell by 6.5% to R2.1 billion. Online sales growth in Africa has been particularly strong, contributing to the group's overall sales growth. In the UK, TFG's sales have declined by 2.2%, and in Australia, sales contracted by 4.4%.

Despite these challenges, TFG has managed to maintain a leaner cost base, a smaller store footprint, strong online momentum, lower inventory, and reduced net debt. The company remains focused on executing its priorities and capital-light growth through its digital channels.