Johannesburg - The Foschini Group [JSE:TFG] on Wednesday
reported sales growth for the December period - from November 27 to December 31
- of 17.3% and same store growth of 11.4%, notwithstanding the high sales
growth base in the corresponding prior period of 22.5%.
"Compared to the corresponding period last year
(September 26 2010 to January 1 2011), group sales for the three months October to
December 2011 (September 25 2011 to December 31 2011) increased by 17.2%,
whilst sales for comparable stores increased by 11%," it said.
Merchandise inflation for the period averaged 6%.
"Our retail debtors' book continues to be well managed, with collections in line with management expectation," the group said.