The Foschini Group (TFG) Q1 2026 TU earnings summary

Group sales and online performance

• Group sales rose 11.5% to R14.4 billion in Q1 FY2026, supported by the White Stuff acquisition.

• Online sales surged 45.5%, now making up 14.5% of total retail sales, with TFG Africa online sales up 40.2% driven by the Bash platform.

• Market share in South Africa increased by 50bps, outperforming total market retail sales growth.

Segmental performance

• TFG Africa sales grew 5.2%, with strong online and credit sales growth; Beauty and Homeware segments led category gains.

• TFG London sales jumped 57.7% (including White Stuff), but declined 2.6% excluding the acquisition; online sales grew 55.9%.

• TFG Australia sales fell 2.8% in AUD amid challenging trading conditions.

Outlook and recent trends

• Business conditions remain volatile globally and domestically, with subdued GDP growth and uncertainty from trade tariffs.

• H1 is expected to be challenging in South Africa due to slow June trade and promotional winter trends.

• For the three weeks ended 19 July 2025, TFG Africa sales increased by 9.2%; White Stuff in the UK saw 68.8% sales growth.

• Australia continues to face contraction, but economic stabilization is noted with recent interest rate cuts.