The Foschini Group (TFG) could shut roughly 280 additional stores in its African portfolio over the next three financial years as it accelerates “space optimisation” and shifts growth to e-commerce.
In a trading update for the 21 weeks ended 22 August 2026, the JSE-listed retailer said it had already closed 85 Africa stores during the period “which were no longer economically viable”, while opening 25 new stores.
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The South African group said: “Within TFG Africa’s store portfolio, a further projected c.80 stores are likely to fall within closure parameters during FY27 [to 31 March 2027], and a further c.100 stores during each of the following two financial years.
“This consolidation is expected to enhance both profitability and return on capital.”
Group sales increased 0.2% to R23bn ($1.43bn) over the 21 weeks (2% in constant currency).
TFG Africa sales grew 3.4%, supported by 1.5% like-for-like growth. In comparison, TFG London rose 2.3% in UK pound sterling and TFG Australia declined 4.7% in Australian dollars amid a tougher consumer environment and the repositioning of Tarocash.
Online continued to outpace store sales.
Group online sales grew 15.3% and now account for 15.9% of total sales, up from 13.8% a year earlier.
In Africa, online sales surged 54.1% and contributed 10.5% of sales (from 7.1%), “driven by the continued strong performance of our Bash platform”, TFG said.
The retailer also pointed to market share gains in South Africa of ten basis points from April to July 2026, citing Retail Liaison Committee data.
On credit, TFG Africa credit sales fell 2.5% and comprised 26.0% of sales (from 27.5%).
The debtors book rose 4.5% to R9.6bn, with acceptance rates for new accounts up 40 basis points to 20.3%.
Looking ahead, TFG said the consumer “is expected to remain under pressure in the near term”, adding: “Management will maintain a disciplined approach to credit extension and space optimisation, while continuing to focus on growing online penetration. The outlook remains cautious.”
