TFG, the owner of popular brands like Markham, Foschini, and Sportscene, has released a trading statement indicating that its interim earnings will be affected by slowing sales.
- The company’s share price experienced a significant decline of up to 8.9% during intraday trade following the release of the statement.
- Load-shedding, or scheduled power outages, has contributed to a decrease in consumer confidence and spending, affecting the performance of clothing retailers in general.
- TFG’s subdued trading statement has also impacted the shares of other clothing retailers in the market.
- All of TFG’s markets have been impacted by higher interest rates, which have further dampened consumer sentiment.
- The company’s brands cater to various segments, including men’s fashion (Markham), women’s fashion (Foschini), and sports apparel (Sportscene).
- TFG’s trading statement underscores the challenging business environment for retailers, highlighting the need for adaptation and resilience in the face of market conditions.