The Foschini Group financials for the year ended March 2026

“Disappointing results against a difficult macro and consumer backdrop.”

Anthony Thunström – Chief Executive

Group performance was adversely affected by a weaker second half, as trading conditions deteriorated across all operating regions.

The impact of softer peak season demand and lower gross margins resulted in negative operating leverage.

The Group recognised non-cash impairment charges against the Phase Eight brand in the UK, and the Tarocash and yd. brands in Australia reflecting the revised long-term cash flow expectations for these businesses.

Selected salient features:

• Group revenue up 7.2%
• Group sales up 7.1% (excluding White Stuff, up 2.8%)
• Group online sales up 31.7%
• Group gross profit up 4.5% (gross margin down 120 basis points)
• Headline earnings per share down 33.5%

Key focus areas:

1. Leverage Bash and fulfilment leadership to make our business more capital light and efficient
2. Close underperforming and marginal stores and sharpen our brand portfolio
3. Enhance our Fintech and credit capabilities
4. Reduce complexity in our operating model and structurally lower our cost of doing business

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