TFG is set to close around 280 stores across Africa as shoppers increasingly turn to online retail.
The Foschini Group (TFG) is planning to close around 280 of its more than 3,600 stores in Africa as online retail commands an increasing share of consumer spending.
According to Bloomberg, the Cape Town-based fashion and retail giant intends to close around 80 stores by the end of March 2027, with a further 200 outlets being closed over the following two years to 2029.
TFG’s brands include Markham, Totalsports, Sportscene, @home, Sterns and American Swiss.
TFG did not disclose the brand breakdown of the affected stores or how many are located in South Africa, which accounts for more than 3,400 of the group’s 3,664 stores on the continent. The retailer also has operations in Australia and the UK, although these do not appear to be affected.
