TFG

South African retail group TFG has seen its share price fall 42%, while discount retailer Boxer is thriving, prompting debate about the diverging fortunes of the two companies. Commentators point to shifting consumer spending towards value-focused grocery retail and away from TFG's fashion and lifestyle brands as the likely driver of the gap. The stark contrast has drawn attention to how South African shoppers are cutting back on discretionary goods while still spending on essentials.