TFG revenue dips in SA, but online sale lift in Australia
Even before global lockdowns began, sales had dropped as customers stayed at home to practice social distancing, TFG says
TFG, owner of Foschini, Markham, Sportscene and American Swiss brands, says its revenue for April is significantly down. But its online sales were higher than expected in Australia, where it owns RAG, an Australian clothing retailer.
Online sales in the UK, where it owns Whistles, Phase Eight and Hobbs clothing brands, were picking up.
In a statement, the company said TFG London had successfully accessed British government support for its UK staff who had not been working or paid, and to help it pay property and rate bills.
TFG’s overseas ventures have been one of SAs success stories abroad. By contrast, Woolworths has written off R6bn in its R21bn investment in David Jones Australia.
TFG said that even before global lockdowns began, sales dropped as customers stayed at home to practice social distancing: “The impact of Covid-19 is being felt in all our operations globally”.
However, it says “its initial decline in demand has now started to reverse as our stores have partially reopened in our various territories”.
TFG's local clothing stores reopened on May 1 as stage 4 of lockdown began.
Its textile factory in Maitland was opened on April 27 to manufacture face masks for staff, and was about to resume clothing manufacturing, it said.
As the Australian government relaxes its lockdown, TFG Australia is preparing to open all its stores while meeting required hygiene standards, and thinks every shop will be all open by end of May.