FOS
FOS
FOS - Foschini Limited - Sales Update
Foschini Limited
Reg. No.: 1937/009504/06
Code: FOS
ISIN: ZAE000031019
Sales Update
December trading was buoyant with sales growth of 16,0% and same store growth of
10,5%. Group sales for the 3 months October to December 2006 were ahead of
expectation, increasing by 13,7% as compared to the corresponding period last
year, as the favourable economic climate continues to benefit consumer
confidence. Sales for comparable stores grew by 8,1%. These results were
achieved with average merchandise inflation for the period of approximately 4%.
All divisions throughout the group performed above budget, with the exception of
the Foschini division where the stock shortages experienced during August and
September continued into October and November, adversely impacting turnover for
those months. This was corrected during December with turnover growth of 14,4%.
Despite the tightening interest rate environment, the group anticipates being
able to produce good growth in earnings for the second half of the year.
This sales update has not been reviewed or reported on by the company`s external
auditors.
Cape Town
16 January 2007
SPONSOR
UBS South Africa (Pty) Ltd
-ENDS
Date: 16/01/2007 12:26:25 Produced by the JSE SENS Department.
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