TFG to Close 180 Stores Amid Online Sales Surge
South African fashion retailer TFG plans to close 180 stores over the next three financial years to cut costs and improve profitability. The decision follows a surge in online sales and the closure of 85 unviable stores.
Insights:
South Africa fashion retailer TFG will close 180 stores over the next three financial years to boost profitability as digital channels expand. The restructuring follows a period of portfolio trimming across its African store network. Online channels now form a core pillar of the group's retail strategy.
