Consumer comeback at The Foschini Group Ltd (TFG)Excellent news from the retail sector contradicts earlier reports that the consumer had spent the festive season recumbent on the beaches in a haze of Hawaiian Tropic and crisp sauvignon blanc.It transpires that while maintaining his usual insouciant and languorous demeanour, the man in the street was also remembering to take the time to go and blow the thirteenth cheque at various of the emporia that constitute the mighty TFG. Particularly impressive was the performance of TFG International, which notched up sales growth of 47.9% in her Britannic Majesty’s ever-weakening pounds. This reflects the acquisition of Whistles last year to complement the beachhead into Blighty that was formed with the purchase of Phase 8 in 2015. It represents yet another example of an SA company establishing a foothold offshore to mitigate its dependence on the precarious local economy.There are times when the market is full of optimism and a junior miner ...
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