TFG to close 180 more stores as online shopping grows
South African retail group The Foschini Group (TFG) plans to close a further 180 stores over the next three financial years as it looks to cut costs and improve profitability.
TFG, which owns brands including Foschini, Sportscene, and Markham, said about 80 stores are expected to meet its closure criteria in the 2027 financial year, followed by another 100 over the following two years.
The retailer has already closed 85 stores deemed no longer economically viable while opening 25 new outlets.
The move comes as customers increasingly shift to online shopping. TFG’s group online revenue increased 15.3%, accounting for 15.9% of total sales, while online sales in Africa jumped 54.1%, driven by its Bash e-commerce platform.
TFG said the store closures form part of efforts to structurally reduce costs and improve the efficiency of its store network.
