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South African retailer TFG posts drop in half-year earnings
November 2, 2017 / 11:39 AM / 20 days ago

South African retailer TFG posts drop in half-year earnings

JOHANNESBURG, Nov 2 (Reuters) - South African retailer The Foschini Group (TFG) reported a drop in half-year earnings on Thursday as the cost of acquisitions weighed and feeble economic growth hurt the nation’s retailers.

The firm, which also sells jewellery and furniture, posted a headline earnings per share (EPS) drop of 2.8 percent to 482,7 cents for the six months to end-September, compared with the previous year’s 5.7 percent growth to 496.8 cents.

Headline EPS is the main profit measure in South Africa and strips away certain one-off items. (Reporting by TJ Strydom; Editibg by Tiisetso Motsoeneng)

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