S.African retailer TFG posts higher Q4 sales on Jet acquisition boost

China Cultural Tourism and Agriculture

14/05/2021 14:09

JOHANNESBURG, May 14 (Reuters) - South African fashion
retailer TFG  TFGJ.J  reported turnover growth of 21% in the
fourth quarter ended March, aided by the contribution of
recently acquired budget clothing retailer Jet, it said on
Friday.
    Excluding Jet, turnover for the quarter from January to
March grew by 6% compared to the same period a year ago, the
retailer said.
    TFG bought Jet in September from struggling department chain
owner Edcon after it filed for business rescue earlier last
year.

    

 (Reporting by Nqobile Dludla
Editing by Tanisha Heiberg)
 ((nqobile.dludla@thomsonreuters.com; +27103461066;))