By Ana Monteiro.
Foschini Group plans to close about 280 stores in Africa through 2029 as the retailer hones in on online sales, which are outpacing the performance of its physical operations.
The Cape Town-based company that also has operations in the UK and Australia said about 80 outlets would fall within its closure parameters in the year that ends in March, with 100 additional exits considered in each of the following two fiscal years. Foschini already closed 85 shops it saw as no longer economically viable in the 21 weeks through August 22, it said Wednesday.
While sales at its physical African stores rose 0.2% in the period, it surged 54% online, driven by the Bash platform Foschini uses for its brands including Sportscene, Totalsports, Markham, Fabiani, @home, American Swiss and Exact.
“Globally, the consumer is expected to remain under pressure in the near term, “Foschini said, adding it will maintain “a disciplined approach to credit extension and space optimisation, while continuing to focus on growing online penetration.”
Retailers in South Africa, Foschini’s biggest market, are navigating a shopping landscape in an economy that has expanded at less than 1% annually on average for more than a decade. Chronic unemployment has resulted in consumers seeking more value for their money.
Group online sales now contribute almost 16% to total sales compared with about 14% a year earlier, Foschini said.
The retail group has more than 3 400 stores in South Africa. Shoppers in the country are expected to spend about R159 billion ($9.9 billion) online this year as e-commerce grows by an estimated 23% and records its first full year at 10% of national retail turnover, a report released Wednesday by World Wide Worx, Mastercard, Peach Payments and Ask Africa showed.
© 2026 Bloomberg.