TFG says slowing sales will hit interim earnings, share price tumbles
Retailer says all of its markets are affected by higher interest rates that are damping consumer sentiment
06 September 2023 - 12:24
UPDATED 06 September 2023 - 18:00
The share price of TFG, the owner of brands such as Markham, Foschini, Sportscene, Jet, and Sterns, fell as much as 8.9% in intraday trade on Wednesday after it released a subdued trading statement late on Tuesday.
The shares of other clothing retailers were also down as load-shedding ramped up to stage 6. Consumer confidence and spend falls when blackouts worsen. ..
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