Latest news with #AnthonyThunström
Zawya
32 minutes ago
- Business
- Zawya
South Africa: TFG reports 4.6% rise in annual profit
South African fashion retailer TFG reported a 4.6% rise in annual earnings, thanks to a rebound in sales in Africa in the second half of the year, store expansion and the acquisition of British chain White Stuff. TFG, which also operates in Australia, said headline earnings per share rose to R10.15 in the year ended 31 March, up from 9.707 rand. Gross profit was up 6.7% to a record 28.8 billion rand ($1.62 billion). TFG Africa's sales rose 7% in the second half after falling 0.1% in the first half. For the full year, sales rose by 3.7%. Group online sales now contribute 12% of total sales, driven by the "continued success of our Bash platform, which has reached profitability two years ahead of schedule - a very likely unique achievement in the South African retail space," TFG CEO, Anthony Thunström said. TFG's total group revenue rose by 4.1% to R62.6bn for the year, while retail sales increased 3.6%, boosted by 8.7% sales growth in the second half after a 2% contraction in the first half, supported by store expansions across all territories and the acquisition of fashion and lifestyle retailer White Stuff in the UK. In Britain, TFG's annual sales rose by 16.4% in pounds, following the acquisition, while TFG Australia continued to face difficult trading conditions, with sustained high inflation and interest rates impacting the consumer. The retailer declared a final dividend of 230 cents per share.
IOL News
3 days ago
- Business
- IOL News
TFG's robust earnings reflect strategic growth and online success
TFG's results for its 2025 financial year underscored a focus on market share growth, margin improvement and cost management, said its CEO, Anthony Thunström Image: Supplied JSE-listed international fashion, homeware and lifestyle retailer TFG's robust financial results for the year to end-March 2025 were fueled by a strong second half from TFG Africa, store expansion, and the acquisition of White Stuff in the UK. Headline earnings a share (HEPS) were up 4.6% to 1015.6 cents. The final dividend was raised by 15% to 230 cents a share. 'The result underscored a 'relentless' focus on market share growth, margin improvement, and cost management,' CEO Anthony Thunström said in a statement. The group has a portfolio of 39 leading retail brands, with over 4 900 outlets in 23 countries on five continents. 'We are targeting the opening of over 100 new stores in the coming year while optimising our existing footprint. With the Riverfields distribution centre now close to fully operational—alongside our other growth and efficiency strategies—we expect continued improvement in operating margins and capital returns in 2026 and beyond,' said Thunström. The Africa business led the charge in the past year with "exceptional" results in the second half. Online sales surged, driven by the success of the Bash platform, which had reached profitability two years ahead of schedule: 'a very likely unique achievement in the South African retail space,' said Thunström. Gross margins expanded by 150 basis points. These gains, along with disciplined cost management across divisions, translated into solid profit growth. Online sales maintained momentum and accounted for 12% of group sales, up from 9.9% the previous year. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading TFG Africa's sales were up 7% in the second half as the base normalised from the prior year's first half's clearance activity. All brands and categories showed improvement, generating full-year growth of 3.7%. Thunström said there was strong growth ahead of the market from womenswear, beauty, and jewellery, as well as recently acquired businesses, Jet and Tapestry, where the retail platform provided credit, online, and distribution capabilities. Online sales grew 43.5% and contributed 5.8% (2024: 4.2%) to total TFG Africa sales. TFG UK increased sales 16.4% in pounds following the acquisition of White Stuff from October 25, 2024. White Stuff saw 20.3% year-on-year growth for the five months post-acquisition. The addition of White Stuff to the portfolio saw store sales up 11.8% and online sales grow 22.5%. Online sales now contribute 44.8% (42.7%) of total TFG UK sales. TFG Australia faced difficult trading conditions, with sustained high inflation and interest rates impacting the consumer. Sales were 2.6% lower in Australian dollars, with a mixed performance throughout the second half in a 'highly promotional market,' Thunström said. Online sales grew by 7.3% and now contribute 8.1% (7.3%) to total TFG Australia sales.
Asharq Al-Awsat
3 days ago
- Business
- Asharq Al-Awsat
South African Fashion Retailer TFG Reports 4.6% Rise in Annual Profit
South African fashion retailer TFG reported a 4.6% rise in annual earnings on Friday thanks to a rebound in sales in Africa in the second half of the year, store expansion and the acquisition of British chain White Stuff. TFG, which also operates in Australia, said headline earnings per share rose to 10.15 rand ($0.57) in the year ended March 31, up from 9.707 rand. Gross profit was up 6.7% to a record 28.8 billion rand ($1.62 billion). TFG Africa's sales rose 7% in the second half after falling 0.1% in the first half. For the full year, sales rose by 3.7%, Reuters said. Group online sales now contribute 12% of total sales, driven by the "continued success of our Bash platform, which has reached profitability two years ahead of schedule - a very likely unique achievement in the South African retail space," TFG CEO Anthony Thunström said. TFG's total group revenue rose by 4.1% to 62.6 billion rand for the year, while retail sales increased 3.6%, boosted by 8.7% sales growth in the second half after a 2% contraction in the first half, supported by store expansions across all territories and the acquisition of fashion and lifestyle retailer White Stuff in the UK. In Britain, TFG's annual sales rose by 16.4% in pounds, following the acquisition, while TFG Australia continued to face difficult trading conditions, with sustained high inflation and interest rates impacting the consumer. The retailer declared a final dividend of 230 cents per share.
