South Africa · Delayed Price · Currency is ZAR · Price in ZAc The Foschini Group Earnings Call Transcripts
Fiscal Year 2026
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FY 2026 saw revenue growth but a sharp decline in operating profit and margins due to tough economic conditions, especially internationally. Management is focusing on cost control, digital expansion, and store rationalization, with early signs of margin recovery and a cautious outlook for FY 2027.
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Group revenue grew 12.2% (3.7% ex-White Stuff), but operating profit fell 10% amid margin pressure and volatile demand. Strong online and beauty growth offset by macro headwinds and cost inflation; outlook remains cautious with focus on cost control and margin protection.
Fiscal Year 2025
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Group revenue rose 4.1% to ZAR 58.3bn, with strong H2 momentum and record results in TFG Africa. Gross margin expanded 150bps, BASH e-commerce reached profitability, and the White Stuff acquisition boosted UK performance. Positive post-year-end trends continue.
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Group gross margin rose to 49.5% and gross profit hit a record ZAR 12.8 billion, driven by strong performance in TFG Africa and disciplined cost control. Strategic acquisitions and digital investments are fueling growth, with further margin gains and 7%-10% annual core growth expected.
Fiscal Year 2024
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Group turnover grew 8.9% with strong margin recovery and record results in key segments, despite tough macro conditions and new global competitors. Net debt was reduced by over 30%, and strategic investments in omnichannel and supply chain are set to drive future growth.