Foschini Group Limited · JSE:TFG
Foschini — TFG (The Foschini Group Limited) — H1 2025 Earnings Presentation
75 slides from Foschini's earnings presentation, November 2024
Slide 1: TFG Results Presentation
TFG RESULTS PRESENTATION For the half-year ended 30 September 2024 1
Slide 2: Agenda
Agenda 01 Overview and Highlights 02 Financial Review 03 Segmental Performance 04 Strategy and Outlook 2
Slide 3: Overview and Highlights
01 OVERVIEW AND HIGHLIGHTS Anthony Thunström Group CEO 3
Slide 4: Positioned and prepared for a new business cycle
Positioned and prepared for a new business cycle • Completed 12-18 months of strategic consolidation and investment • Entering a new cycle with early positive indicators • Positioned to gain market share and share of wallet across all territories • Profitable growth set to enhance shareholder return
Slide 5: A tough economy has pressured consumers
A tough economy has pressured consumers Inflation rates (%) GDP growth rates (%) • Extended inflation • Close to no growth 8 6 • Subdued consumer confidence • Flat household expenditure 4 3 0 0 South Africa SA | UK Consumer confidence AUS SA Household consumption expenditure growth (%) United Kingdo
Slide 6: Group performance
A focus on margins delivers strong GP growth despite tough trading conditions Group performance Revenue -1.4% Gross Profit +2.5% Gross Margin 49.5% R28.0bn R12.8bn H1 2024: 47.3% Operating profit -3.4% HEPS -5.6% Interim dividend 160c R2.5bn 371.6c H1 2024: 150c TFG Results Presentation – for the ha
Slide 7: A resilient Africa performance highlight
A resilient Africa performance highlight TFG Africa Revenue 0.6% Gross Profit +6.6% Gross Margin 42.2% PBT +8.5% R20.2bn R7.6bn H1 2024: 39.5% R1.1bn TFG London Revenue -8.2% Gross Profit -3.1% Gross Margin 67.9% PBT -23.1% £145.0m £98.4m H1 2024: 64.3% £8.0m TFG Australia Revenue -2.4% Gross Profit
Slide 8: TFG Africa – Performance
TFG Africa – Performance A closer look at divisional performance Sports Turnover growth -3.0% Speciality GP growth +6.6% Turnover growth +5.1% Stock Turn PY TY GP growth +9.1% Africa Turnover Own brand 2.9x 2.8x R18.1bn 3rd party 2.0x 2.1x Stock Turn PY TY -0.1% @home 1.5x 1.7x Jewellery 1.4x 1.5x M
Slide 9: Strong post-results trade, some green shoots in sight
Strong post-results trade. some green shoots in sight Trading update Africa (R) London (£) Australia (A$) Interim sales -0.1% -8.2% -2.4% 5 weeks post (Excl. White Stuff) +8.3% +0.3% -0.1% 5 weeks post (Incl. White Stuff) proforma +5.0% SA interest rates SA fuel prices 2900 2700 2500 2300 2100 1900
Slide 10: Strategy highlights
Strategy highlights Our vision remains to create the most remarkable omni-channel experiences for our customers Build out Optimise Leverage Transform Sustain Our customer Diversified. high Our sourcing mix Into a true omni- Ourselves and data, stores, talent brand-equity and supply chain channel ret
Slide 11: Build out – Update on Tapestry acquisition
Build out – Update on Tapestry acquisition TFG platform benefits continue to be realised Credit R118m for H1, +56.6% on PY 7.4% contribution Vertical integration 3 factories all vertically integrated c. 5-10% GM improvement dependent on category Sofa manufacture More than 50,000 sofas sold p.a. in T
Slide 12: Build out – TFG London acquisition of White Stuff
Build out – TFG London acquisition of White Stuff Founded on the ski slopes in 1985, White Stuff is a lifestyle brand known for its unique casual clothing appealing to consumers who value distinctive designs TFG Results Presentation – for the half-year ended 30 September 2024 12
Slide 13: Build out – TFG London acquisition of White Stuff
Build out – TFG London acquisition of White Stuff Understanding the White Stuff business Wholesale, Sales by 9% channel Stores, • Purchase price £ 51.7m 47% • FY24 Turnover £155m Online, 44% • EBITDA £ 8.6m ✓ Funded off the UK Balance Sheet International ✓ Accretive to the Group from Day 1 Sales by
Slide 14: Creating an equivalent London business platform
Build out – Creating an equivalent London business platform Acquisition adds close to 50% to TFG London top line and 35% to EBITDA FY 2024 TFG London White Stuff Combined Total POS 581 206 787 Net sales £323.5m £154.8m £478.3m Gross profit £226m £97m £323m Gross margin 69.9% 62.4% 67.5% EBITDA (pre-
Slide 15: Strategically differentiated from our other London brands
Build out – Strategically differentiated from our other London brands P RI CE Higher Casual Formal Lower TFG Results Presentation – for the half-year ended 30 September 2024 15
Slide 16: Launching the Flagship JD store
Build out – Launching the Flagship JD store • We are proud to bring this leading brand to South Africa • Flagship 800m2 store opens in Canal Walk - November 2024 • Next Flagship store opens in Eastgate - December 2024 • 50 stores over the next 5 years Canal Walk shop front – our best build yet TFG R
Slide 17: Building out the best stores in retail – Jet
Building out the best stores in retail – Jet like you’ve never seen it Our progress so far: • Consolidated range build • Right sized stores • Improved supply base • Renegotiated leases EBIT up +85.8% for H1 • Differentiated our positioning • Closed 37 stores Supported by our revamp strategy Year 1 &
Slide 18: Optimise – Towards a demand-led supply chain
Optimise – Towards a demand-led supply chain FY2023 FY2024 FY2025 New Riverfields mega-DC has gone live ✓ Major commissioning with no significant issues ✓ Phased migration – Sports and Womenswear complete ✓ All brands operating from the facility from April 2025 July 2022 Sept 2023 Mar 2024 Sept 2024
Slide 19: Optimise – Towards a demand-led supply chain
Optimise – Towards a demand-led supply chain Why is this such an important investment? How is it working? Results from early testing: 1. 2. 3. Replenishment lead time: Consolidation Own E-comm Hold back 2.6 days Previously: 4.6 days • Closer to market • Reduced reliance • 40% of stock on • Moving fr
Slide 20: Transform – Creating the most remarkable omnichannel experiences
Transform – Creating the most remarkable omnichannel experiences • bash hits 5m+ downloads • No. 1 SA Fashion shopping app Revenue growth H1: GP H1: The power of ROPO +47.9% +71% Research Online, Purchase Offline Ave daily visitors to bash in H1: 700k Ave daily uses of stock tracker: 100k Cross shop
Slide 21: Leveraging – Our store footprint and employees
Leveraging – Our store footprint and employees Scaled bashstore • Currently in 517 stores A mobile POS that enables • Trained 5,000 store employees employees to search and sell • Setup 1,000+ bashstore devices TFG’s entire assortment, from a single store. The results: Bigger basket sizes Higher marg
Slide 22: Slide 22
Slide 23: Sustain – TFG Africa manufacturing
Sustain – TFG Africa manufacturing 4 out of 5 apparel items1 and close to half of our furniture and homeware is now made locally TFG has major manufacturing facilities in apparel, furniture and homeware, having integrated various acquisitions over time Earlier FY22 FY23 FY24 H1 FY25 H2 FY25 Prestige
Slide 24: Group Financial Review
02 GROUP FINANCIAL REVIEW Ralph Buddle Group CFO 24
Slide 25: Group | Highlights
Group | Highlights Strong operational performance against difficult trading conditions. • Consumer under pressure but signs of improvement from September • Strong focus on margin management and margin recovery • Trading expenses well managed • Net finance costs down • Inventories normalised and heal
Slide 26: Group | Highlights
Group | Highlights Turnover -2.0% Gross +2.5% Gross 49.5% Profit Margin R25.9bn R12.8bn (H1 2024: 47.3%) EBIT -3.4% EBIT 9.8% PBT -5.0% Margin R2.5bn (H1 2024: 10.0%) R1.7bn -5.6% 14.1% Net Debt / 1.18x HEPS ROCE (H1 2024: 13.6%) EBITDA (H1 2024: 1.30x) 371.6c Excl. goodwill Pre IFRS 16 Interim 160c
Slide 27: Group | Turnover and Gross Profit
Group | Turnover and Gross Profit Focus on margins and costs. Africa London Australia % growth -0.1% +6.6% +5.9% -8.2% -3.1% -22.5% -2.4% -0.5% -18.3% 18,092 18,068 373 364 158 145 102 238 237 98 7,154 7,626 1,727 1,828 14 46 38 A$’m 11 R’m £’m H1 2024 H1 2025 H1 2024 H1 2025 H1 2024 H1 2025 Retail
Slide 28: Group | Balance Sheet
Group | Balance Sheet Inventories well managed, debtors book healthy, and capex well controlled. Working Capital Investment Working capital well managed under difficult Inventory R13.7bn Stock 2.4x trading conditions: R0.8bn Capex Turn +7.5% on H1 2024 H1 2024: 2.3x H1 2024: R1.0bn • Increase in inv
Slide 29: Group | Cash Generation
Group | Cash Generation Working capital increase driven by investment in inventory to normalised levels ahead of peak season. LTM to Sep 24 R’m TFG Results Presentation – for the half-year ended 30 September 2024 29
Slide 30: Segmental Performance: TFG Africa
03 SEGMENTAL PERFORMANCE: TFG AFRICA Ralph Buddle Group CFO 30
Slide 31: TFG Africa | A story of a 5+1 half
TFG Africa | A story of a 5+1 half Focus on margin recovery. Gross Margin % 45.5% April - August 42.3% 42.9% September 41.6% 40.9% 40.2% 13.4% 42.2% 41.6% 38.8% 38.7% 37.2% 37.7% Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 6.0% H1 2024 H1 2025 3.9% 1.9% Gross profit -0.4% 1.4 1.4 1.4 1.4 1.3 1.3 -2.6%
Slide 32: TFG Africa | Performance
TFG Africa | Performance Record Gross Profit and EBIT. Growth on H1 R’m H1 2025 H1 2024 2024 • Gross margin improvement Retail Turnover 18,067.8 18,092.1 (0.1%) • Higher acceptance rates, lower bad Gross Profit 7,625.5 7,153.6 6.6% debts on book Gross Margin % 42.2% 39.5% 2.7% • Strong performance f
Slide 33: TFG Africa | Other income
TFG Africa | Other income Other income growth of 7.6%. % growth +7.6% 2,044 1,900 H1 2025 H1 2024 Growth on H1 620 2024 539 Credit income 1,424 1,361 4.6% Interest received on trade receivables 987 950 3.9% Collection and cost recovery 437 412 6.1% Value added services and other 620 539 15.1% 1,424
Slide 34: TFG Africa | Trading Expenses
TFG Africa | Trading Expenses Trading expenses well managed. % of Turnover 41.7% 39.7% 38.8% 39.5% 36.8% H1 FY 2021 H1 FY 2022 H1 FY 2023 H1 FY 2024 H1 FY 2025 Growth on H1 LFL store growth % of on H1on2024 2024 LFL store growth H1 turnover Growth on H1 2024 % of turnover 2024 Occupancy costs 5.4% 4
Slide 35: TFG Africa | Capex
TFG Africa | Capex Existing stores optimised, with fewer new stores opened. H1 2025 A f r ic a Cap ex and D ep rec i ati on Other 724 R69m 12% Stores 573 R212m Logistics 37% 469 456 R151m Contribution 26% IT 34 New Stores R141m 25% R’m Cap ex D e p r e c i a t i on Cap ex D e p r e c i a t i on H1 2
Slide 36: TFG Africa | Inventory
TFG Africa | Inventory Inventory health has improved. Net Inventory Inventory Health H1 2025 10,849 17% 9,764 Stock turn 2.5x 8,892 25% 58% H1 2024: 2.4x 0-8 weeks 9-26 weeks >27 weeks Inventory Health H1 2024 • Improvement in stock health 21% • Stock turn improved 52% 27% R’m H1 2024 FY 2024 H1 202
Slide 37: TFG Africa | Acquisitions
TFG Africa | Acquisitions Recent acquisitions continue to be accretive. % growth +4.7% +13.7% +14.3% +15.6% +5.2% -4.9% -1.4% +85.8% (LFL +10.6%) (LFL -1.5%) 2,640 2,508 2,511 1,458 1,282 1,225 195 169 190 148 104 102 R’m R’m Turnover EBIT Turnover EBIT H1 2023 H1 2024 H1 2025 TFG Results Presentati
Slide 38: Segmental Performance: TFG Africa Credit
03 SEGMENTAL PERFORMANCE: TFG AFRICA CREDIT JANE FISHER GROUP DIRECTOR 38
Slide 39: Credit | Demand
Credit | Demand Upward trend in accept rates. Accept rates & credit turnover +1.7% Group R4.8bn 4,500 60% 4,000 Credit 3,500 50% Turnover +0.6% Jet R696m 3,000 35.8% 40% 34.7% Acquisitions 2,500 23.9% 25.6% 30% +56.6% 2,000 19.0% 20.9% 20.3% Tapestry R118m 1,500 17.0% 17.4% 18.0% 20% 1,000 9.1% R’ M
Slide 40: Credit | Health
Credit | Health Bad debt write-off YoY growth of only 1.4%. Gross book & provisions 12,000 68% 66% 10,000 Buying 64% Ageing Position 83.0% Overdue 12.8% 8,000 62% 60% 6,000 58% 4,000 56% 54% Bad debt Net Write-off R’ Millions 2,000 24.5% +1.4% Bad Debt 13.1% 19.7% 20.4% 20.7% 20.0% 19.1% 20.1% 20.0%
Slide 41: Credit | Summary
Credit| Summary Record H1 EBIT. Growth on H1 Income growth of 5.0% H1 2025 H1 2024 2024 • Flat rate environment • 9% YoY growth in new accounts R’m Income 1,423.8 1,355.5 5.0% Net bad debt declines by 9.5% • Provision ratio improvement Net Bad Debt (603.7) (667.0) (9.5%) • 1.4% bad debt growth Tradi
Slide 42: Segmental Performance: TFG London
03 SEGMENTAL PERFORMANCE: TFG LONDON Justin Hampshire CEO TFG London Emma Mackrill CFO TFG London 42
Slide 43: TFG London | Performance
TFG London | Performance Gross margin increases 3.5% compared to H1 2024. % Growth on £’m H1 2025 H1 2024 H1 2024 • Macro headwinds continue – high inflation and interest rates Revenue 145.0 158.00 (8.2%) • A more promotional market driven by low consumer confidence Retail Turnover 145.0 158.0 (8.2%
Slide 44: TFG London | Performance Highlights
TFG London | Performance Highlights EBIT margin % -22.5% 6.8% 8.0% 9.0% 7.6% No. of stores 972 718 632 564 508 177 158 146 145 102 102 98 88 85 39 10 14 14 11 £’m H1 2021 H1 2022 H1 2023 H1 2024 H1 2025 -20 Retail Turnover Gross Profit EBIT Performance: • Strong gross margin delivery • International
Slide 45: TFG London | Performance Highlights
TFG London | Performance Highlights Net Inventory Inventory Health H1 2025 59 58 48 25 % £’m 12% 63% £’m H1 2023 H1 2024 H1 2025 0-8 weeks 9-26 weeks >27 weeks Inventory: • Gross stock levels increased in anticipation of the Red Sea delays • 75% of stock is less than 6 months old; 63% current season
Slide 46: TFG London | Outlook
TFG London | Outlook ECONOMIC CHALLENGES • UK macro uncertainty continues, although the market sentiment is more positive on the back of the recent interest rate cut • Consumer confidence improving • Uncertainty from Government change and new budgetary stance OUTLOOK • Potential further interest rat
Slide 47: TFG London | White Stuff
TFG London | White Stuff White Stuff at a glance Sales £155m and EBITDA £8.6m (year to April 24), based in London and employing c1,200 people. Rationale • Growth potential • Strong pipeline of new stores • Web and other channels identified growth levers • Long term private ownership • Experienced ma
Slide 48: Segmental Performance: TFG Australia
03 SEGMENTAL PERFORMANCE: TFG AUSTRALIA Dean Zanapalis CEO TFG Australia Troy Wilson CFO TFG Australia 48
Slide 49: TFG Australia | Performance
TFG Australia | Performance Gross margin increases 1.2% compared to H1 2024. % Growth on A$’m H1 2025 H1 2024 H1 2024 • Low economic growth & low consumer confidence remains Revenue 364.0 373.0 (2.4%) • Gross margin improvement of +1.2% through markdown management and logistics savings Retail Turnov
Slide 50: TFG Australia | Performance
TFG Australia | Performance Year of normailising as market bottoms out. EBIT margin % 9.3% 10.2% 19.5% 12.5% 10.4% No. of stores 535 575 579 597 602 402 373 364 270 273 238 237 194 172 118 78 46 38 A$’m 18 28 H1 2021 H1 2022 H1 2023 H1 2024 H1 2025 Retail Turnover Gross Profit EBIT Performance: • FY
Slide 51: TFG Australia | Performance Highlights
TFG Australia | Performance Highlights Stock levels are very healthy and the quality remains strong. Inventory Health - H1 2025 Net inventory 2.6% 3.9% 136 129 9.5% Current Season 126 Season -1 Season -2 Season -3 84.0% +AGED A$’m Sep 22 Sep 23 Sep 24 Inventory Health - H1 2024 4.3% 1.6% Inventory:
Slide 52: TFG Australia | Outlook
TFG Australia | Outlook ECONOMIC CHALLENGES • Consumer confidence low amid cost-of-living pressures • Interest rates remain high • Cost of doing business pressures including award wage increases • Unemployment remains low • The market remains competitive and promotionally led OUTLOOK • Sales showing
Slide 53: Strategy and Outlook
04 STRATEGY AND OUTLOOK Anthony Thunström Group CEO 53
Slide 54: TFG Africa – A unique retail ecosystem and platform for growth
TFG Africa – A unique retail ecosystem and platform for growth customer pull deep loyalty most loved brands 500m+ Social media followers 38.8m 27.8 store visits in FY251 rewards members 245m+ +8% on PY 15.2m 10.4 8.2 6.9 active shoppers 5.2 online sessions in FY25 Other SA apparel retailers 1based o
Slide 55: TFG Africa – Growth opportunities
TFG Africa – Growth opportunities We have substantial opportunities for both new store openings and like-for-like growth. Additionally, the following growth engines are being actively developed: FY25 Turnover 2029 Turnover Value R10bn R16bn Homeware R5.4bn R10bn VAS (incl. cellular) R4bn R6.5bn Beau
Slide 56: Expanding opportunities in adjacent categories
Expanding opportunities in adjacent categories • TFG businesses compete for less than 10% of the aggregate SA wallet • Our retail presence, e-commerce capabilities, credit and existing customer relationships make a strong case for expansion Average household expenditure (all income groups) Rands 100
Slide 57: Looking forward
Looking forward • Portfolio of healthy brands across all territories • Tough macros have weighed on consumers, but there are some promising green shoots • Compelling runway to build out our existing brands along with new opportunities • Margins reflect the composition of our portfolio, and continue
Slide 58: Q&A break
We will resume in 5 minutes for the Q & A session. Enjoy your coffee break… Q&A 58
Slide 59: Thank You
THANK YOU 59
Slide 60: Appendix
APPENDIX 60
Slide 61: Group | Income Statement
Group | Income Statement H1 2025 H1 2024 Change Rm Rm Revenue 27,975.0 28,360.9 (1.4%) Retail turnover 25,874.8 26,410.9 (2.0%) Gross profit 12,801.6 12,484.7 2.5% Interest income 1,065.4 1,032.5 3.2% Insurance revenue 123.8 111.4 11.1% Other income 911.0 806.1 13.0% Net bad debt (603.7) (667.7) (9.
Slide 62: TFG Africa | Income Statement
TFG Africa | Income Statement H1 2025 H1 2024 Change Rm Rm Revenue 20,164.3 20,039.7 0.6% Retail turnover 18,067.8 18,092.1 (0.1%) Gross profit 7,625.5 7,153.6 6.6% Interest income 1,061.7 1,030.1 3.1% Insurance revenue 123.8 111.4 11.1% Other income 911.0 806.1 13.0% Net bad debt (603.7) (667.7) (9
Slide 63: TFG London | Income Statement
TFG London | Income Statement H1 2025 H1 2024 Change H1 2025 H1 2024 Change £m £m Rm Rm Revenue 145.0 158.0 (8.2%) Revenue 3,393.9 3,718.1 (8.7%) Retail turnover 145.0 158.0 (8.2%) Retail turnover 3,393.9 3,718.1 (8.7%) Gross profit 98.4 101.6 (3.1%) Gross profit 2,301.8 2,391.3 (3.7%) Trading expen
Slide 64: TFG Australia | Income Statement
TFG Australia | Income Statement H1 2025 H1 2024 Change H1 2025 H1 2024 Change A$m A$m Rm Rm Revenue 364.0 373.0 (2.4%) Revenue 4,416.8 4,603.1 (4.0%) Retail turnover 363.7 372.8 (2.4%) Retail turnover 4,413.1 4,600.7 (4.1%) Gross profit 236.9 238.2 (0.5%) Gross profit 2,874.3 2,939.7 (2.2%) Interes
Slide 65: Group | Trading Expense
Group | Trading Expense H1 2025 H1 2024 Change Rm Rm Occupancy costs 3,088.2 2,991.1 3.2% Depreciation and amortisation 586.6 579.7 1.2% Employee costs 4,919.6 4,732.6 4.0% Other operating costs 3,442.7 3,153.0 9.2% Total trading expenses before IFRS16 adjustments 12,037.1 11,456.4 5.1% IFRS16 adjus
Slide 66: Group | Statement of Financial Position
Group | Statement of Financial Position H1 2025 H1 2024 Change H1 2025 H1 2024 Change Rm Rm Rm Rm Assets Equity and liabilities Equity attributable to equity holders of Non-current assets The Foschini Group Limited 24,282.4 22,748.2 6.7% Property, plant and equipment 6,046.7 5,570.4 8.6% LIABILITIES
Slide 67: Group | Cash Flow Statement
Group | Cash Flow Statement H1 2025 H1 2024 H1 2025 H1 2024 Rm Rm Rm Rm Cash flows from operating activities Cash flows from financing activities Operating profit before working capital changes 5,345.0 5,314.2 Shares purchased and delivered in terms of share incentive Increase in working capital (3,
Slide 68: Credit | TransUnion Consumer Credit Index Q2 2024
Credit | Transunion Consumer Credit Index Q2 2024 Improvement in credit health • The TransUnion SA Consumer Credit Index (CCI) of 47 for Q1 and 46 for Q2 suggest the credit environment has deteriorated at a lesser pace • Improvement from all-time low primarily due to a lack of further interest rate
Slide 69: Credit | Additional Information
Credit | Additional Information TFG AFRICA % TFG AFRICA TFG AFRICA H1 FY25 CHANGE H1 FY24 FY24 Income (Rm) 1,423.8 5.0% 1,355.5 2,755.1 Net bad debt (Rm) (603.7) (9.5%) (667.0) (1,393.9) Credit costs (Rm) (325.7) 4.4% (312.0) (643.6) EBIT (Rm) 494.4 31.3% 376.5 717.6 Number of applications 1,901,716
Slide 70: Global Footprint
Global Footprint TFG STORES 4 720 COUNTRIES 23 TFG AFRICA STORES TFG LONDON STORES TFG AUSTRALIA STORES 3 610 508 602 CONTRIBUTION TO TURNOVER CONTRIBUTION TO TURNOVER CONTRIBUTION TO TURNOVER 69.8% 13.1% 17.1% TFG Results Presentation – for the half-year ended 30 September 2024 70
Slide 71: Footprint movement since April 2024
Footprint movement since 1 April 2024 TFG AFRICA TFG LONDON 3 621 547 Apr 24 Apr 24 3 610 508 Sep 24 Sep 24 TFG AUSTRALIA GROUP 4 766 598 Apr 24 Apr 24 602 4 720 Sep 24 Sep 24 TFG Results Presentation – for the half-year ended 30 September 2024 71
Slide 72: TFG Africa Footprint
TFG Africa Footprint Country Stores South Africa 3,383 Namibia 98 Zambia 29 Botswana 62 Lesotho 19 Eswatini 19 South Africa Stores Eastern Cape 341 Free State 185 Gauteng 959 KwaZulu-Natal 461 Limpopo 310 Mpumalanga 324 North West 191 Northern Cape 102 Western Cape 510 TFG Results Presentation – for
Slide 73: TFG London footprint
TFG London footprint Total Standalone Europe Concessions Stores Stores UK & Ireland 363 148 215 Switzerland 6 6 0 Germany 2 2 0 Spain 18 0 18 Netherlands 9 2 7 Total Standalone North America Concessions Stores Stores USA 33 4 29 Mexico 34 0 34 Total Standalone Asia Concessions Stores Stores Hong Kon
Slide 74: TFG Australia footprint
TFG Australia footprint Australia Total Stores Standalone Stores Concessions Australia 559 519 40 New Zealand 43 43 0 TFG Results Presentation – for the half-year ended 30 September 2024 74
Slide 75: Disclaimer
DISCLAIMER This announcement contains certain forward-looking statements with respect to the financial conditions and results of operations of the Foschini Group Limited and its subsidiaries, which by their nature involve risk and uncertainty because they relate to events and depend on circumstances
TFG (The Foschini Group Limited) — H1 2025 Earnings Presentation on 6ix