UK acquisition helps TFG boost earnings

The Foschini Group's foray into Europe is paying off, helping the clothing retailer report a 17.6% rise in headline earnings per share. In January last year, TFG acquired high-end UK fashion retailer Phase Eight, which contributed 41.4% of cash-sales growth during the year under review.Phase Eight has extensive reach in Europe, Asia, the Middle East, Australia and the US, where it has more than 540 stores.