Fall in UK workwear demand hits TFG income prospects
Unlike many SA companies, including Woolworths and Truworths, that have lost billions in their forays abroad, TFG has profitable UK and Australian businesses
25 October 2020 - 17:50
TFG, owner of Foschini, Jet and American Swiss, has warned it will swing into a diluted headline loss per share of between 78.6c and 131c for its half-year to September, compared to diluted headline earnings per share of 526.9c previously, saying new lockdowns in the UK and Australia will continue to dent profits.
The clothing group is considered one of SA’s most successful clothing retailers locally and abroad. Unlike many SA companies, including Woolworths and Truworths, that have lost billions in their forays abroad, TFG has profitable UK and Australian businesses. ..
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