The South-African owned company has revealed an increase in performance and gains in market share in its latest results.
The operator of such brands as Connor, Johnny Bigg, YD, Rockwear and Tarocash across Australia and New Zealand has announced that for the year to 27 March, their Australian turnover had increased by 24 per cent when compared with the previous year.
“Between March 2020 and November last year, various countrywide, state-wide and localised lockdowns were in place in response to government advice regarding the global pandemic, meaning that all stores in Australia and New Zealand were temporarily closed at various times,” Retail Apparel Group’s parent The Foschini Group reported in a stock exchange filing. Outside of lockdown periods, continuing social distancing measures impacted trade, and sales were lower than budgeted.”
It has been five years since The Foschini Group paid $302M for the Australian business and its subsequent brands.
