Tag: anthony thunstrom

TFG CEO on the decision to buy Jet Stores from Edcon

The Foschini Group has put in an offer to acquire 371 Jet Stores, from Edcon, in a deal worth R480 million. In April, Edcon filed for voluntary business rescue, as it faced a distressed balance sheet. Meanwhile, on its trading update, TFG has reported a consolidated retail turnover decline of 43 per cent for the three months ended 27 June, due to the COVID-19 Lockdowns in SA, the UK and Australia. Anthony Thunström, Group Chief Executive Officer, The Foschini Group joins CNBC Africa for more.

TFG finds a sweet spot in UK retail

At a time where its peers are exiting their UK operations, The Foschini Group is seeing double digit growth. CEO Anthony Thunstrom says it’s because their strategy is solid. He spoke to CNBC Africa’s Kopano Gumbi about their plans for global domination and struggles in difficult Southern African markets.