RETAIL CLOTHING
TFG looks to further grow sales on internet
CEO Doug Murray says the 6% contribution from online sales will ‘definitely’ grow
TFG expects to see a rising contribution from online sales — which now account for 6% of group-wide turnover — as it invests in its e-commerce operations, says CEO Doug Murray. "The UK is just over 28% [online sales], Australia is a bit less because it’s only been included for two months, but their online sales are about 2.5% of what they do, and in SA, we’re edging up to 1%," Murray said. "Considering that America is around 8.5%, we’re going in the right direction and we’ve got a lot of focus on that in terms of investments in all territories." The 6% contribution from online sales would "definitely" grow, Murray said. The clothing retail company reported that turnover in the six months to end-September rose 9.2%, or 12.6% on constant currency terms, to R12.5bn. Headline earnings grew 5.6% to R1.1bn, excluding costs related to the acquisition of Australian company Retail Apparel Group. Credit turnover growth rose to 6.2%, which was "in line with expectations, as the negative impact...
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