CHRIS GILMOUR: Online sales shine as Australian and UK operations drag TFG down
The growth in African sales is an achievement amid unfair competition from Shein and Temu
Back in the day Foschini (as TFG was then known) gave the investment community the scantiest of information in its annual financial statements on which to make decisions. Though, to be fair, those analysts and journalists who made the effort to trek down to Parow to meet management were treated well and enjoyed a good dialogue.
Those were the days when the late Stanley Lewis was chair and ran what was in effect a family business tightly. And it worked. In those days Foschini was by far the best performer on the JSE-listed clothing retail board. But times change and Foschini changed. The firm went through a number of CEOs and seemed to lose focus to an extent. It certainly lost the mantle of best-performing clothing retailer, first to Truworths and then to Mr Price. ..
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