Foschini score from World Cup

2011-05-26 14:35

The World Cup and above-expected festive sales helped clothing retailer Foschini Group achieve a “solid performance” in its results for the financial year ended March 31, 2011.

“... [T]he positive consumer sentiment sparked by the soccer World Cup last year was maintained and accelerated further in the second half of year, delivering Christmas sales above expectation,” Foschini Group CEO Doug Murray said in a statement today.

Headline earnings per share, a measure of profit, rose 21.3 percent to 632.3 cents a share.

The group declared a final dividend of 212 cents a share, resulting in a total dividend for the year of 350 cents a share.

The group opened 100 new stores across all its operating divisions in the past year, increasing its trading area by 6.3 percent.

Murray said all Foschini’s divisions had performed well during the year.

“Foschini, which also comprises Donna-Claire, Fashion Express and Luella increased sales by 12.5 percent overall, with strong growth in the second half of the year of 17.7 percent.

“The R3.7 billion-strong division has 484 stores countrywide.”

Markham had added 13 stores to comprise 247 stores and increased its sales by 20.2 percent.

The jewellery division – made up of 381 American Swiss, Sterns and Matrix stores – “continues to buck the trend for slower sales of discretionary items in tougher economic times”, he said.

It increased sales by 11.5 percent.

The Sports division trading as Totalsports, Sportscene and Duesouth increased turnover by 16.9 percent to R1.75bn.

It added 33 new stores to make up 324 stores countrywide.

The homeware and furniture division, @home, increased its store base to 83 stores and grew sales by 15.5 percent to R679 million.

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