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Fashion retailer TFG swings to profit on post-COVID recovery

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Reuters UK

JOHANNESBURG (Reuters) – South African fashion retailer TFG swung to a full-year operating profit, it said on Friday, as it recovered from COVID-19 restrictions which forced store closures across its three markets. Clothing retailers were among the hardest hit by lockdowns in the first half of 2020, when non-essential retailers were forced to close stores in South Africa and subsequently only allowed to sell a few items. Similar lockdowns also impacted TFG’s London and Australia operations. As restrictions have eased, consumers have refreshed their wardrobes and homes after months stuck at hom…

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