TFG share price falls 7% even though sales have perked up since June

THE Foschini Group’s (TFG) share price plunged over 7% on Thursday morning after the clothing and accessories retailer reported that June sales in its TFG Africa segment had flattened, following a first eight weeks of strong sales for the 2026 financial year.

- EDWARD WEST

The share price was trading at R110.96 on Thursday morning, which was also 15.3% lower than the price a year ago.

In the first eight weeks of the quarter to end-June 2025, the group reported a strong 9.9% increase in sales due to the timing shift of the Easter holidays into April and favourable winter conditions against a prior-year base impacted by pre-election consumer caution in 2024.

However, June 2025 sales slowed and were flat, while total market retail sales reported by the Retail Liaison Committee (RLC) fell by 4%.

“The impact was intensified by the shift of school holidays from the last two weeks of June into July, leading to higher promotional activity across the market,’ TFG's directors said.

Nevertheless, for the three weeks to July 19, 2025, TFG Africa's sales had increased by 9.2%. One hundred new stores were expected to be opened in the 2026 financial year.