TFG seems to break the ‘Australian curse’
The fashion retailer has excelled Down Under, with an 11% revenue increase in Australia, attributed largely to using local, experienced managers
TFG, which has brands that include The Fix, Sportscene and Foschini, seems to have broken the Australian curse by excelling Down Under while other SA retailers, such as Woolworths and Pick n Pay, have had a terrible time in that country. Woolworths’ R21bn investment has lost half its value while Pick n Pay exited a decade ago.
TFG has released its trading update for the nine months ending December 2019 and boasts an 11% revenue increase in Australia, saying its Australian sales “continue to exceed expectations”.