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South Africa’s TFG posts higher Q3 turnover on online sales boost

PUBLISHED: Tue, 19 Jan 2021 12:03:32 GMT

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Jan 19 (Reuters) – South African fashion retailer TFG said on Tuesday its third-quarter turnover rose 5.5% as online sales surged during the COVID-19 pandemic and it had received further approvals to buy the rest of Jet’s operations in Africa.

TFG, formally known as The Foschini Group, said online group turnover rose 32.3% for the quarter ended Dec. 26, with a 114.1% jump in Africa.

(Reporting by Tanishaa Nadkar in Bengaluru; Editing by Shinjini Ganguli)

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