The Foschini Group Limited

JSE:TFG Stock Report

Market Cap: R22.6b

Foschini Group Management

Management criteria checks 4/4

We currently do not have sufficient information about the CEO.

Key information

Anthony Thunström

Chief executive officer

R28.5m

Total compensation

CEO salary percentage56.42%
CEO tenure7.7yrs
CEO ownershipn/a
Management average tenure6.3yrs
Board average tenure10.7yrs

Recent management updates

Recent updates

TFG: EPS Guidance Reset And Higher Impairments Will Support Future Upside Potential

Analysts have trimmed Foschini Group's implied fair value from ZAR104.30 to about ZAR100.93, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples. What's in the News The Foschini Group issued earnings guidance for the year ending 31 March 2026, indicating that impairments might be up to ZAR750 million.

TFG: Impairment-Driven EPS Reset Will Support Longer-Term Upside Potential

Analysts have trimmed their ZAR-based fair value estimate for Foschini Group from ZAR106.18 to about ZAR104.30, reflecting slightly adjusted assumptions around the discount rate, revenue growth, profit margin and future P/E. What's in the News Foschini Group issued earnings guidance for the year ending March 31, 2026, indicating that shareholders are advised that a reasonable degree of certainty exists that group EPS will be at least 20% lower than the prior period, at or below 784.5 cents compared with 980.6 cents for FY2025 (company guidance).

TFG: Impairment-Driven EPS Reset Will Still Support Future Upside

Analysts now place Foschini Group's fair value at ZAR106.18 per share, compared with the previous ZAR108.86. This reflects updated assumptions for the discount rate, revenue growth, profit margin and future P/E.

TFG: Impairment-Driven Earnings Reset Will Still Support Future Upside

Analysts have maintained their ZAR price target for Foschini Group at approximately ZAR109 per share, citing only very small adjustments to inputs such as the discount rate, long term revenue growth, profit margin assumptions and the future P/E used in their valuation work. What's in the News Foschini Group issued earnings guidance for the year ending March 31, 2026, indicating that group earnings per share are expected to be at or below 784.5 cents compared with 980.6 cents in FY2025, with a reasonable degree of certainty that EPS will be at least 20% lower than the prior period (company guidance).

TFG: Earnings Reset And Lower P/E Multiple Will Support Future Upside

The analyst price target for Foschini Group has shifted from ZAR116.21 to ZAR108.86, as analysts factor in updated fair value estimates, a slightly lower discount rate, modestly adjusted revenue growth expectations, a largely unchanged profit margin outlook, and a reduced assumed future P/E multiple. What's in the News Foschini Group issued earnings guidance for the year ending March 31, 2026, highlighting the impact of expected impairments of up to ZAR 750 million on results (Corporate Guidance).

TFG: Hold Downgrade And Reset P/E Assumptions Will Support Future Upside

Analysts have trimmed their price expectations for Foschini Group, cutting the target to ZAR 93. They are now more cautious on the shares, citing updated assumptions for discount rates, revenue growth, profit margins and future P/E multiples.

TFG: Hold Downgrade And Lower P/E Assumptions Will Support Future Rebound

Narrative Update Analysts have trimmed their fair value estimate for Foschini Group from ZAR 119.99 to about ZAR 116.21, reflecting a slightly higher discount rate and a lower assumed future P/E multiple, in line with a recent downgrade to Hold and a ZAR 93 price target from the Street. Analyst Commentary The recent downgrade to Hold and the ZAR 93 price target point to a more balanced view on Foschini Group, with analysts weighing both potential upside and key execution risks.

TFG: Hold Downgrade And Guidance Reset Will Support Future Recovery

Analysts now see limited upside for Foschini Group, with the latest research pointing to a ZAR 93 price target and a Hold stance. This aligns with only very small tweaks to discount rate, revenue growth, profit margin and future P/E assumptions.

TFG: Digital And Cost Discipline Will Support Future Recovery From Cautious Downgrade

Analysts lowered their price target on Foschini Group to ZAR 93.00 from a higher prior level, reflecting a more cautious stance on the stock in light of recent valuation and risk reassessments. Analyst Commentary Analysts signaled a more neutral stance on Foschini Group following the revision to a Hold rating, highlighting a balance of supportive fundamentals and emerging risks around execution and macro headwinds.

TFG: Digital Focus Will Support Long-Term Stability Despite Higher Perceived Risk

Narrative Update on Foschini Group Analysts have reduced their price target on Foschini Group to ZAR 93, reflecting a more cautious stance on the shares as updated discount rate assumptions point to slightly higher perceived risk in the company’s future cash flows. Analyst Commentary Analysts are adopting a more balanced stance on Foschini Group, with the latest move being a downgrade to Hold alongside the ZAR 93 price target.

TFG: Digital Transformation Will Drive Long-Term Stability Despite Margin Pressures

Foschini Group's analyst price target has been lowered from R136.30 to R119.99. Analysts cite slower revenue growth expectations and a slightly higher discount rate in their updated outlook.

TFG: Earnings Per Share Are Expected To Rebound In The Coming Year

Analysts have lowered their price target for Foschini Group from R150.40 to R136.30. This change reflects recent adjustments in profit margin forecasts and revenue growth expectations.

Analysts Lower Foschini Group Price Target as Valuation and Growth Forecasts Ease

Analysts have lowered their price target for Foschini Group from R159.78 to R150.40. This change reflects a slightly softer outlook on revenue growth and profit margin expectations.
User avatar

White Stuff Acquisition And Bash Platform Leverage Set Stage For Earnings Surge

Strategic investments and acquisitions are expected to increase market share, revenue, and profitability across multiple regions and product categories.

The Foschini Group Limited's (JSE:TFG) Share Price Not Quite Adding Up

Apr 13
The Foschini Group Limited's (JSE:TFG) Share Price Not Quite Adding Up

Should You Think About Buying The Foschini Group Limited (JSE:TFG) Now?

Mar 29
Should You Think About Buying The Foschini Group Limited (JSE:TFG) Now?

CEO Compensation Analysis

How has Anthony Thunström's remuneration changed compared to Foschini Group's earnings?
DateTotal CompensationSalaryCompany Earnings
Sep 30 2025n/an/a

R3b

Jun 30 2025n/an/a

R3b

Mar 31 2025R28mR16m

R3b

Dec 31 2024n/an/a

R3b

Sep 30 2024n/an/a

R3b

Jun 30 2024n/an/a

R3b

Mar 31 2024R24mR15m

R3b

Dec 31 2023n/an/a

R3b

Sep 30 2023n/an/a

R3b

Jun 30 2023n/an/a

R3b

Mar 31 2023R32mR14m

R3b

Dec 31 2022n/an/a

R3b

Sep 30 2022n/an/a

R3b

Jun 30 2022n/an/a

R3b

Mar 31 2022R21mR8m

R3b

Dec 31 2021n/an/a

R831m

Sep 30 2021n/an/a

-R1b

Jun 30 2021n/an/a

-R2b

Mar 31 2021R57mR8m

-R2b

Dec 31 2020n/an/a

-R117m

Sep 30 2020n/an/a

R2b

Jun 30 2020n/an/a

R2b

Mar 31 2020R19mR8m

R2b

Compensation vs Market: Anthony's total compensation ($USD1.71M) is about average for companies of similar size in the ZA market ($USD1.48M).

Compensation vs Earnings: Anthony's compensation has been consistent with company performance over the past year.

CEO

Anthony Thunström (53 yo)

7.7yrs
Tenure
R28,472,000
Compensation

Mr. Anthony E. Thunström, BCom (Hons Acc), CA(SA), has been Executive Financial Director at The Foschini Group Limited from December 01, 2023 and serves as Chief Executive Officer at The Foschini Group Lim...

Leadership Team

NamePositionTenureCompensationOwnership
Anthony Thunström
CEO, Member of Operating Board & Executive Director7.7yrsR28.47mno data
Ralph Buddle
CFO, Executive Director & Member of Operating Board2.1yrsR12.01mno data
G. Naidoo
Group Director of Retail & Member of Operating Board19.6yrsno datano data
Stuart Baird
Group Director of Retail & Member of Operating Boardno datano datano data
Senta Morley
Chief People & Culture Officer and Member of Operating Board9.3yrsno datano data
Jane Fisher
Group Director of Financial Services & Member of Operating Boardno datano datano data
Jacques Kock
Group Director of Technology and Fulfilment & Member of Operating Board5.3yrsno datano data
N. Nkomo
Group Director & CIO of TFG Africa and Member of Operating Boardless than a yearno datano data
Selwyn Eagle
Managing Director of TFG Merchandise Procurementno datano datano data
Brent Curry
Chief Information Officer of TFG Infotec6.3yrsno datano data
Suzanne Annenberg
Managing Director of Exactno datano datano data
Matthew Wilson
Chief Financial Officer of TFG Londonno datano datano data
6.3yrs
Average Tenure
57yo
Average Age

Experienced Management: TFG's management team is seasoned and experienced (6.3 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Anthony Thunström
CEO, Member of Operating Board & Executive Director10.8yrsR28.47mno data
Ralph Buddle
CFO, Executive Director & Member of Operating Board2.1yrsR12.01mno data
Michael Lewis
Non-Executive Chairman37.3yrsR1.70m0.45%
ZAR 101.8m
Graham Davin
Lead Independent Non-Executive Director10.5yrsR1.01mno data
Edwin Oblowitz
Non-Executive Director15.6yrsR1.43m0.00093%
ZAR 210.6k
Nkululeko Sowazi
Independent Non-Executive Director2.3yrsR486.00kno data
Ronald Stein
Non-Executive Director27.3yrsR1.06m0.082%
ZAR 18.5m
Jan Potgieter
Independent Non-Executive Director2.8yrsR1.03mno data
Gcina Zondi
Independent Non-Executive Directorless than a yearno datano data
Boitumelo . L. Makgabo-Fiskerstrand
Independent Non-Executive Director13.5yrsR889.00kno data
David Friedland
Independent Non-Executive Director12.5yrsR892.00k0.0066%
ZAR 1.5m
Colin Coleman
Independent Non-Executive Director6.3yrsR789.00kno data
10.7yrs
Average Tenure
62yo
Average Age

Experienced Board: TFG's board of directors are seasoned and experienced ( 10.7 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/01 19:06
End of Day Share Price 2026/04/30 00:00
Earnings2025/09/30
Annual Earnings2025/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

The Foschini Group Limited is covered by 16 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Darren CohnAbsa Bank Limited
Victor DimaArqaam Capital Research Offshore S.A.L.
Atiyyah VawdaAvior Capital Markets