Retailers TFG and Mr Price lure holiday shoppers with discounts

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South African retailers The Foschini Group (TFG) and Mr Price Group reported healthy sales growth over the holiday season, with Black Friday discounts luring consumers into stores.

In April-December TFG's Africa division showed resilience across all merchandise categories, with turnover rising 5.9% and same-store sales increasing 4.1%. In Australia, sales jumped 11.4%.

Mr Price, which sells clothing, homewear and sportswear, reported a 3.5% rise in retail sales and other income to 7.4 billion rand for its third quarter, which ended on Dec. 28.

 

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