Publications
Partners
Johannesburg - South Africa's second-biggest clothing retailer Foschini [JSE:FOS] said on Monday that sales grew 17.3% in the first five months of this financial year, boosted by sales of clothing, cellphones and homewares.
Foschini, which runs 14 different stores serving the middle-to-upper income segments, also said that overall trading space was expected to increase by around 7% in the current financial year, in line with its growth strategy.
"Trading conditions for the first five months of this financial year have been encouraging and above expectation, notwithstanding the inflated World Cup base," chief executive Doug Murray said in a statement.
"The growth has been consistent across all trading formats, with total sales up 17.3% and same-store growth 10.5% compared to the same period last year."
The company also said it remains confident to report a favourable result for this year, although performance in the second half is heavily dependent on trading during the Christmas season.
Foschini, which runs 14 different stores serving the middle-to-upper income segments, also said that overall trading space was expected to increase by around 7% in the current financial year, in line with its growth strategy.
"Trading conditions for the first five months of this financial year have been encouraging and above expectation, notwithstanding the inflated World Cup base," chief executive Doug Murray said in a statement.
"The growth has been consistent across all trading formats, with total sales up 17.3% and same-store growth 10.5% compared to the same period last year."
The company also said it remains confident to report a favourable result for this year, although performance in the second half is heavily dependent on trading during the Christmas season.
