The owner of Foschini grabs market share
Cash sales surge 14% as retailer TFG takes cautious approach to consumer credit
Clothing group TFG says cash turnover has grown solidly in the first 21 weeks of its 2020 financial year, but credit extension remained almost flat in Africa due to reduced consumer spending.
The group said growth in credit turnover was 0.9%, reflecting its prudent approach to credit extension, particularly in the current subdued trading environment and even more so now that the National Credit Amendment Bill was signed into law three weeks ago. ..