TFG to open 100 stores in 2026, Bash grows online market share

JSE-listed retail major The Foschini Group (TFG) saw its online sales jump 47.2% in the 13 weeks from end-September to end-December 2024, it announced in a statement on Sens.

The group, however, shed more than 3% of its share price on Friday morning, trading at R149.25 at 11am.

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Bash gains market share 

Online sales through its Bash e-commerce platform now contribute more than 5.6% to total retail sales.

“Bash also achieved strong market share gains in December 2024 against a backdrop of declining market shares for some of the pure play retailers,” it notes.

Over the past two years, TFG has invested significantly in Bash, a single app and web-driven platform that brings together all the group’s well-known brands, including Sportscene, Markham, and Foschini, in one place.

Moneyweb reported earlier that TFG is challenging international competitors Shein and Temu – which are aggressively expanding in South Africa – by offering shorter delivery times for online orders.

Read: With Shein, Temu and Bash threat, can Superbalist ever make money?

TFG attributes the strong sales growth in its Africa division to improved trading during Black Friday and Christmas.

More than 100 new stores are planned for the 2026 financial year.

Other figures

In the nine months from 1 April to 28 December, TFG’s gross profit was up 5% compared to the prior nine-month period.

Regarding sales growth per merchandise category in the 13 weeks, beauty sales came out tops with a 19% jump, followed by jewellery at 8% and homeware and clothing – each up just over 5%.

Credit turnover for TFG Africa grew 7.3% from September to December and now accounts for more than a quarter of total sales.

International brands

Following the acquisition of White Stuff in October 2024, TFG London increased sales by 0.6% on a comparable basis.

On a stand-alone basis, White Stuff grew its sales by 18.3% in the third quarter.

TFG Australia continues to face tough trading conditions but showed improvement in its performance in the third quarter. Sales were 0.5% lower compared to the 2.4% contraction in the first half of the year (in AUD).

Outlook

The group expects a modest recovery in retail sales in South Africa for 2025. In the three weeks ended 18 January, sales in TFG Africa grew 14.6%.

While the UK economy remains under pressure, TFG notes it is encouraged by the performance of White Stuff – a prominent British fashion and lifestyle brand — and its positive impact on the business.

In Australia, challenging trading conditions remain, but the economy appears to be stabilising, with interest rate reductions expected soon.

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