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THE FOSCHINI GROUP LIMITEDTHE FOSCHINI GROUP LIMITEDTHE FOSCHINI GROUP LIMITED

THE FOSCHINI GROUP LIMITED

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TFG trade ideas

Our opinion on the current state of TFGThe Foschini Group (TFG) is an international retailer with a portfolio of 28 fashion brands. The company operates 4,083 trading outlets in 32 countries worldwide, including divisions in London, Australia, and a substantial presence in South Africa. One of TFG’s standout achievements has been its ability to establish a successful business in Australia, where many other retailers, such as Woolworths, have struggled. In 2017, TFG acquired the Retail Apparel Group (RAG) in Australia for just over $300 million and has allowed the Australian management team significant autonomy, refraining from micromanaging the business from South Africa. Over the long term, TFG has consistently performed well in the challenging retail clothing sector in South Africa, where it faces stiff competition from both overseas brands and local retailers. It is regarded as the best of the retail clothing companies on the JSE and is well-diversified internationally, offering a valuable rand-hedge element. Although retail is typically sensitive to the business cycle, the TFG board has demonstrated an impressive ability to manage the company profitably, even in challenging environments where others have failed. In its results for the six months to 30th September 2024, TFG reported revenue down 1.4% and headline earnings per share down 5.6%. Despite this, online sales grew by 9.9%, contributing 10.7% to total turnover, with its Bash online platform in South Africa achieving impressive growth of 47.9%. The company stated, "...the improvement from the 3.5% decline reported in our 21-week guidance in September 2024 highlights the noticeable improvement in trading activity experienced in all territories since September 2024, and through to November 2024." In an update on the three months to 28th December 2024, TFG reported group sales up 8.4%, with online sales surging 47.2%. From June 2023, the share has been in a new upward trend, indicating growing investor confidence. On 27th October 2024, TFG announced the acquisition of the UK fashion and lifestyle retailer White Stuff for an undisclosed amount, further expanding its international footprint. TFG continues to be a well-managed and resilient company, capitalizing on both its strong international diversification and growing online presence. The company’s ability to adapt to market challenges and expand strategically positions it as a compelling investment. We believe TFG should be accumulated during periods of market weakness for long-term growth potential.
JSE:TFG
by PDSnetSA
Our opinion on the current state of TFGThe Foschini Group (TFG) is a prominent international retailer with 28 fashion brands and 4083 trading outlets across 32 countries. TFG's successful expansion into Australia with the Retail Apparel Group (RAG) acquisition in 2017 (for over $300 million) sets it apart, as many South African retailers, such as Woolworths, have struggled in that market. TFG has maintained RAG’s success by allowing its Australian management team autonomy rather than attempting to manage it from South Africa. Historically, TFG has maintained strong performance in South Africa’s highly competitive clothing retail industry, despite challenges from both international brands and local retailers. In its year-end results to 31st March 2024, TFG reported: - Revenue up 8.9% - Headline earnings per share (HEPS) up 0.2% - Cash retail turnover up 9.9%, making up 82.3% of total retail turnover - Online retail turnover up 22%, contributing 9.9% to group retail turnover - Gross profit increased by 8.6% to R27 billion In a trading update for the 21 weeks to 24th August 2024, TFG saw a 3.5% decline in sales but reported a 100-basis point increase in gross margin. Key growth areas included: - Online sales up 7.8%, now 10.8% of total sales, driven by a 42.7% increase in South Africa via the Bash platform - Cash sales contribute 73% to TFG Africa sales and 81.2% to total group sales TFG’s diversification overseas offers a significant rand-hedge advantage, balancing the effects of South Africa's economic cycles. The company has demonstrated resilience and effective management, especially as the share entered a new upward trend in June 2023 despite challenges like rising interest rates and loadshedding. We consider TFG one of the best-managed retail clothing companies and a solid long-term investment, suitable for accumulation on weakness. On 27th October 2024, TFG announced the acquisition of White Stuff, a UK fashion and lifestyle retailer, furthering its international diversification.
JSE:TFG
by PDSnetSA
Our opinion on the current state of TFGThe Foschini Group (TFG) is an international retailer of 28 fashion brands. It has 4,083 trading outlets in 32 countries around the world, with divisions in London and Australia, aside from its extensive presence in the South African market. One of the notable achievements of TFG is its successful business establishment in Australia, where many other retailers (like Woolworths) have failed. TFG bought the Retail Apparel Group (RAG) in Australia for just over $300 million in 2017. TFG has allowed the Australian management team virtual autonomy in managing the business and has not attempted to manage it from South Africa. Over the long term, TFG has been a consistent performer in one of the most difficult industries in South Africa, with stiff competition from overseas brands and local clothing retailers. In its results for the year to 31st March 2024, the company reported revenue up 8.9% and headline earnings per share (HEPS) up 0.2%. The company said, "Cash retail turnover increased by 9.9% compared to the prior period and now contributes 82.3% to total Group retail turnover. Online retail turnover increased by 22.0% and now contributes 9.9% to total Group retail turnover. The Group maintained its gross margin percentage and increased gross profit by 8.6% to a record R27.0 billion in line with the growth in retail turnover." We regard TFG as the best of the retail clothing companies, and it is well diversified overseas, which gives it a rand hedge element. Retail is normally very much impacted by the business cycle, but the TFG board has shown its ability to manage the business profitably in many difficult environments where others have failed. Following COVID-19, the share moved up steadily until October 2022, when it began to reflect the impact of rising interest rates and loadshedding on the South African consumer. We believe that this remains a very well-managed company which should be accumulated on weakness.
JSE:TFG
by PDSnetSA
$JSETFG - Foschini: Major Trend Change, EW Patterns EverywhereSee link below for previous analysis. Foschini seems to have found a bottom at 8100. The big bear market from 16688 has unfolded in a classic zig zag; Wave (A) is a simple impulse. Wave (B) is a running triangle. Wave (C) is an ending diagonal. The move from 8100 looks to be forming a leading diagonal. After five waves are complete in the leading diagonal, I expect a three wave correction. What is critical is for the correction not to breach 8100 which would invalidate the outlook.
JSE:TFGLong
by Loyiso_BlaqueSoros_Mpeta
Our opinion on the current state of TFGThe Foschini Group (TFG) is an international retailer of 28 fashion brands. It has 4083 trading outlets in 32 countries around the world. It has a division in London and one in Australia, aside from its extensive presence in the South African market. One of the notable achievements of TFG is that it has managed to establish a successful business in Australia where many other retailers (like Woolworths) have failed. TFG bought the Retail Apparel Group (RAG) in Australia for just over $300m in 2017. TFG has allowed the Australian management team virtual autonomy in the management of the business and has not attempted to manage it from South Africa. Over the long term, TFG has been a consistent performer in one of the most difficult industries in South Africa, with stiff competition from overseas brands and local clothing retailers. Consumer spending has also been under enormous pressure in South Africa. The company completed an over-subscribed rights issue to raise R3,95bn to reduce debt and pursue the company's growth strategy. The company has bought 382 JET stores from the Edcon liquidators for R480m which are now performing very well for TFG. TFG faces competition from the Chinese company, Shein, which only sells online, but has a very rapid response to changes in fashion. On 7th March 2022, the company announced that it had acquired 100% of Tapestry Home Brands for R2,35bn. Tapestry owns brands like Dial-A-Bed and Coricraft. In a voluntary update on the impact of loadshedding on 13th March 2023 the company said, "For the 2- month period (excluding the non-comparative Tapestry Home Brands ("Tapestry") retail turnover growth has decreased from 12,6% (excluding Tapestry)* for the nine months ended 31 December 2022, to low-single digit growth for these 2 months. This has in turn reduced retail turnover growth for the 48 weeks ended 25 February 2023 to 11,4% (excluding Tapestry)*". The company expects to lose R1bn as a result of loadshedding in the current financial period. In its results for the six months to 30th September 2023 the company reported revenue up 12,9% and headline earnings per share (HEPS) down 15,3%. The company said, "Group online retail turnover up 23,9% to R2,6 billion, contributing 9,8% to total Group retail turnover, the growth largely attributable to strong growth in South Africa". In an update on the 3 months to 31st December 2023 the company reported TFG Africa sales up 5% and same store sales up 0,7%. December month sales were up 12% and 6% on a like-for-like basis. Sales were affected by Transnet's logistics problems and a poor showing on Black Friday. We regard TFG as the best of the retail clothing companies and it is well diversified overseas which gives it a rand hedge element. Retail is normally very much impacted by the business cycle, but the TFG board has shown its ability to manage the business profitably in many difficult environments where others have failed. Following COVID-19, the share moved up steadily until October 2022 when it began to reflect the impact of rising interest rates and loadshedding on the South African consumer. We believe that this remains a very well-managed company which should be accumulated on weakness.
JSE:TFGP
by PDSnetSA
Our opinion on the current state of TFGThe Foschini Group (TFG) is an international retailer of 28 fashion brands. It has 4083 trading outlets in 32 countries around the world. It has a division in London and one in Australia, aside from its extensive presence in the South African market. One of the notable achievements of TFG is that it has managed to establish a successful business in Australia where many other retailers (like Woolworths) have failed. TFG bought the Retail Apparel Group (RAG) in Australia for just over $300m in 2017. TFG has allowed the Australian management team virtual autonomy in the management of the business and has not attempted to manage it from South Africa. Over the long term, TFG has been a consistent performer in one of the most difficult industries in South Africa, with stiff competition from overseas brands and local clothing retailers. Consumer spending has also been under enormous pressure in South Africa. The company completed an over-subscribed rights issue to raise R3,95bn to reduce debt and pursue the company's growth strategy. The company has bought 382 JET stores from the Edcon liquidators for R480m which are now performing very well for TFG. TFG faces competition from the Chinese company, Shein, which only sells online, but has a very rapid response to changes in fashion. On 7th March 2022, the company announced that it had acquired 100% of Tapestry Home Brands for R2,35bn. Tapestry owns brands like Dial-A-Bed and Coricraft. In a voluntary update on the impact of loadshedding on 13th March 2023 the company said, "For the 2- month period (excluding the non-comparative Tapestry Home Brands ("Tapestry") retail turnover growth has decreased from 12,6% (excluding Tapestry)* for the nine months ended 31 December 2022, to low-single digit growth for these 2 months. This has in turn reduced retail turnover growth for the 48 weeks ended 25 February 2023 to 11,4% (excluding Tapestry)*". The company expects to lose R1bn as a result of loadshedding in the current financial period. In its results for the six months to 30th September 2023 the company reported revenue up 12,9% and headline earnings per share (HEPS) down 15,3%. The company said, "Group online retail turnover up 23,9% to R2,6 billion, contributing 9,8% to total Group retail turnover, the growth largely attributable to strong growth in South Africa". We regard TFG as the best of the retail clothing companies and it is well diversified overseas which gives it a rand hedge element. Retail is normally very much impacted by the business cycle, but the TFG board has shown its ability to manage the business profitably in many difficult environments where others have failed. Following COVID-19, the share moved up steadily until October 2022 when it began to reflect the impact of rising interest rates and loadshedding on the South African consumer. We believe that this remains a very well-managed company which should be accumulated on weakness.
JSE:TFG
by PDSnetSA
TFG: lower lows?Declining Channel: The share has been trading within a well-defined declining channel, as highlighted by the two parallel red lines on the chart. This pattern typically suggests a consistent downward trend. Moving Averages: Two moving averages are depicted on the chart - the "200-day" and "200-week." The share is currently trading below both these moving averages, further indicating a bearish sentiment. Fibonacci Retracements: The share price has previously shown reactions near the 23.6% and 38.2% levels, indicating these could be areas of interest. Target & Stop Levels: There's a bearish sentiment, with a target set at 8600 (a potential decline of 8.6% from current levels). On the contrary, the stop is placed at 10000, indicating a potential risk of 5.9% if the share moves against the anticipated direction. Increase Exposure Level: The annotation "increase exposure around 9200" indicates a potential area where one might consider adding to a short position or potentially looking for a bounce. Recent Price Action: It's worth noting that recent candles show strong red bars, suggesting a continued selling interest.
JSE:TFGShort
by Peet_Serfontein
FOSCHINI - Relief RallyThe stock rallied hard yesterday after dipping and likely trapping some shorts just below the ambush zone R91.74 Price has pushed back over of the 20/50 ema but it will be important to see some follow through today else a a short-term reset to R93-95 may be in order. "The 61.8% level is a Fibonacci retracement level that traders use as a trading strategy for the Forex market, futures, stock trading, and even options. The Fibonacci retracement ratios are derived from the Fibonacci sequence, which is a series of numbers where each number is the sum of the two preceding ones. The 61.8% level is found by taking one number and dividing it by the number beside it on the right. For example, 55 divided by 89 equals 0.6179 or 61.79%. Traders use the 61.8% level in various ways to support their trading decisions. Here are some common applications: Trading Strategy: Traders use the 61.8% level as a proxy measure for support and resistance. They look for price bounces from this level to identify potential buying opportunities. Fibonacci Extensions: Traders use the 61.8% level as a potential target for price extensions in an uptrend. They look for price moves that exceed the previous high and then retrace back to the 61.8% level before continuing higher. Stop Loss Placement: Traders use the 61.8% level as a potential stop loss placement in case their trade goes against them. They place their stop loss orders below this level to limit their losses. It’s worth mentioning that traders often use multiple Fibonacci retracement levels in conjunction with other technical indicators to develop comprehensive trading strategies.
JSE:TFG
by Trader-Dan
Our opinion on the current state of TFGThe Foschini Group (TFG) is an international retailer of 28 fashion brands. It has 4083 trading outlets in 32 countries around the world. It has a division in London and one in Australia, aside from its extensive presence in the South African market. One of the notable achievements of TFG is that it has managed to establish a successful business in Australia where many other retailers (like Woolworths) have failed. TFG bought the Retail Apparel Group (RAG) in Australia for just over $300m in 2017. TFG has allowed the Australian management team virtual autonomy in the management of the business and has not attempted to manage it from South Africa. Over the long term, TFG has been a consistent performer in one of the most difficult industries in South Africa, with stiff competition from overseas brands and local clothing retailers. Consumer spending has also been under enormous pressure in South Africa. The company completed an over-subscribed rights issue to raise R3,95bn to reduce debt and pursue the company's growth strategy. The company has bought 382 JET stores from the Edcon liquidators for R480m which are now performing very well for TFG. TFG faces competition from the Chinese company, Shein, which only sells online, but has a very rapid response to changes in fashion. On 7th March 2022, the company announced that it had acquired 100% of Tapestry Home Brands for R2,35bn. Tapestry owns brands like Dial-A-Bed and Coricraft. In a voluntary update on the impact of loadshedding on 13th March 2023 the company said, "For the 2- month period (excluding the non-comparative Tapestry Home Brands ("Tapestry") retail turnover growth has decreased from 12,6% (excluding Tapestry)* for the nine months ended 31 December 2022, to low-single digit growth for these 2 months. This has in turn reduced retail turnover growth for the 48 weeks ended 25 February 2023 to 11,4% (excluding Tapestry)*". The company expects to lose R1bn as a result of loadshedding in the current financial period. In its results for the year to 31st March 2023 the company reported turnover up 19,4% and headline earnings per share down 4%. The company said, "We estimate the financial impact of load shedding to have reduced TFG Africa’s retail turnover by in excess of R1,5 billion in FY2023. As of 31 March 2023, 1 875 stores had back-up power, representing c.75% of TFG Africa’s retail turnover. Gross margin for the Group contracted to 47,9% (March 2022: 48,5%) mainly as a result of prevailing conditions in South Africa, which experienced heightened consumer pressure, unprecedented load shedding and consequently surplus inventories causing a higher level of promotional activity which negatively impacted gross margin". In a trading statement for the six months to 30th September 2023 the company estimated that HEPS would decrease by between 15% and 25% caused by, "The inflated post COVID-19 over performance by TFG London and TFG Australia in H1 FY2023, the increased levels of load shedding in South Africa and the impact of the higher interest rates and borrowing". We regard TFG as the best of the retail clothing companies and it is well diversified overseas which gives it a rand hedge element. Retail is normally very much impacted by the business cycle, but the TFG board has shown its ability to manage the business profitably in many difficult environments where others have failed. Following COVID-19, the share moved up steadily until October 2022 when it began to reflect the impact of rising interest rates and loadshedding on the South African consumer. We believe that this remains a very well-managed company which should be accumulated on weakness.
JSE:TFG
by PDSnetSA
TFG - bullish biasThe Foschini Group, TFG 1. Price Formation: The price has broken out from a "W" price formation on a daily chart. The "W" pattern is considered a bullish reversal pattern, indicating a potential upward trend. 2. Moving Averages: The 7-day moving average (MA) is above the 21-day MA, which is a positive sign indicating short-term bullish momentum. 3. 200-day Moving Average: The 200-day MA is just hovering. This could suggest a potential shift in the overall trend, as the price approaches or hovers around this key long-term moving average. 4. Relative Strength Index (RSI): The RSI is greater than 50, indicating bullish momentum and potential further upward movement. 5. Price Target: R140 Overall, based on the described technical indicators, the outlook is bullish, with the price breaking out from a bullish "W" formation, short-term moving averages supporting the trend, and the RSI showing positive momentum. The Foschini Group, TFG- the company The Foschini Group is a South African multinational retailing group, offering a diversified portfolio of 28 leading fashion retail brands across various lifestyle and merchandise categories. The company was founded in 1925 and has since grown significantly, both domestically and internationally. TFG has over 4,000 outlets in 32 countries, including South Africa, other African countries, the United Kingdom, and Australia. Their brands offer a comprehensive range of clothing, accessories, footwear, home décor items, jewellery, cosmetics, and sports apparel. TFG has three main divisions: TFG Africa (which houses the majority of their brands), TFG London, and TFG Australia. Some of their well-known brands include Foschini, @home, Markham, Fabiani, G-Star Raw, Phase Eight, and Whistles. The group has a strong e-commerce presence and has been expanding its digital transformation efforts, including digital marketing, data analytics, and online sales.
JSE:TFGLong
by Sahle
TFG Quasimodo Inv head and shoulders upside to R120Inv H&S has formed on TFG. It's not a very attractive one as the left shoulder moved past the neckline. I call these the Quasimodos of trading. Anyway, the large downtrend has broken and the uptrend is on its way. So the signs of buying and demand are high. We have other indicators confirming: 7>21 Price<200 RSI>50 Target 1 will be at R120.00 ABOUT THE COMPANY Origins: The Foschini Group (TFG) is a South African retail group with a diverse portfolio. It was established in 1924, and its first store was a women's fashion retailer located in Cape Town. Portfolio: TFG operates numerous brands across various retail sectors, including fashion, jewelry, accessories, cosmetics, cellphones, and homewares. Some of its popular brands include Foschini, Markham, Totalsports, and Sterns. International Presence: TFG has a significant retail presence in 32 countries, including South Africa, the UK, and Australia. Expansion: TFG has grown through both organic expansion and strategic acquisitions. In recent years, the company has acquired numerous brands to diversify its portfolio, such as Phase Eight, Whistles, and Hobbs in the UK.
JSE:TFGLong
by Timonrosso
TFG could take some time but heading to R120.00 interesting factInv H&S has formed on The Foschini Group. It's potential and there are two scenarios. One the price just rallies with the rest of the JSE Retailers and goes to R120. Or two, it could hit the top of the downtrend, consolidate align and then break up and out of it once there are strong buying troops and demand. Either way, the signs are good for upside since it broke out of its one year downtrend channel. 7>21 Price<200 RSI>50 Target R120.00 ABOUT TFG ~ The Foschini Group (TFG) is a prominent South African retail company with headquarters in Cape Town. ~ TFG was founded in 1925 and has since grown to become one of the largest retail groups in South Africa. ~ The company operates a diverse portfolio of retail brands, including Foschini, Markham, Totalsports, @home, Exact, and more. ~ Markham is a leading men's fashion brand known for its contemporary clothing, footwear, and grooming products. ~ Totalsports focuses on sports apparel, footwear, and equipment, catering to various sporting disciplines. ~ @home is a home and furniture brand offering stylish and modern homeware, furniture, and decor items. ~ TFG has a significant presence not only in South Africa but also in various African countries such as Botswana, Namibia, Lesotho, and Zambia. HOW IT GOT ITS NAME The Foschini Group (TFG) got its name from its founder, Benjamin Foschini. He was a Jewish immigrant who established the company in 1925 as a small store in Cape Town, South Africa.
JSE:TFGLong
by Timonrosso
$JSETFG - Foschini: Bottom STILL Not In Yet, What Now?The last coverage of Foschini was on the 14th of March 2023, link below. Price has traded moderately lower since then. On the 10th of May 2023, TFG released a trading update for Q4'2023 and the 12 months ended 31 March 2023. Technically, not much has changed on the structure and we now have more clarity that the correction is not yet complete. The stock had a bounce at 8228 but this level has recently been breached. Though still very early days, the recent price action suggests that the stock is making another interconnecting (X) wave before we see further downside for wave (Z) to complete a complex triple-three corrective pattern. The Group expects to release its annual financial results for the 12 months ended 31 March 2023 on Friday, 9 June 2023. Until then, I will sit on my hands and observe price action.
JSE:TFG
by Loyiso_BlaqueSoros_Mpeta