Bash powers TFG online sales as group profit tumbles

The Foschini Group (TFG) reported a sharp divergence between its online performance and overall profitability for the financial year ending 31 March 2026. While group headline earnings per share fell 33.5% to 675.4c, the retailer’s online business emerged as a key growth driver, with total e-commerce sales rising 31.7% to approximately R9.2-billion. The standout performer was the Bash platform, which fueled a 49.2% surge in e-commerce sales across the South African operation. Within the TFG Africa division, online transactions accounted for 8.2% of total sales for the year, climbing to 10% in the fourth quarter alone. Group e-commerce revenue climbed from R7-billion a year earlier, with the South African portion rising to roughly R3.5-billion. These digital gains contrasted sharply with challenges in physical retail and overseas markets. The group recorded a net reduction of nine stores during the period, closing 242 locations while opening 233. Additionally, operating profit dropped 37% after accounting for R1-billion in non-cash impairments against offshore brands including Phase Eight, Tarocash, and yd. The final dividend was also cut by 39.1% to 140c. Management noted that scale benefits were improving profitability, though the specific financial contribution of Bash remains undisclosed. As competitors like Amazon and Takealot intensify competition in South Africa, TFG faces the challenge of scaling its online momentum to offset pressures on its traditional brick-and-mortar footprint.