FOS
FOS
FOS - Foschini Limited - Sales update
FOSCHINI LIMITED
Reg. No.: 1937/009504/06
Code: FOS
ISIN: ZAE000031019
Sales Update
In our interim results, we indicated that this year was expected to be one of
the most difficult that the group would experience for many years. Christmas
trading was challenging across all divisions with sales growth for December of
5,5% and same store growth of 1,9%.
Consumer spending continues to be affected by higher interest rates, fuel prices
and the National Credit Act. Compared to the corresponding period last year,
group sales for the 3 months October to December 2007 increased by 4,3% whilst
sales for comparable stores grew by 0,4%. Average merchandise inflation for the
period was approximately 3%.
Our retail debtors` book continues to be well managed, reflecting positive
collections with net bad debts as a percentage of credit transactions at the
same levels as reported in our interim results.
Whilst we expect the trading environment to remain difficult in the short term,
the group nonetheless anticipates being able to produce earnings growth for the
full year.
This sales update has not been reviewed or reported on by the company`s external
auditors.
Cape Town
11 January 2008
SPONSOR
UBS South Africa (Pty) Ltd
Date: 11/01/2008 10:30:01 Produced by the JSE SENS Department.
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