Number Of The Day | R24 billion | 27 July 2026
R24 billion is today’s Number of the Day.
That is how much market value The Foschini Group has lost over the past year.
The episode says TFG’s share price has fallen to levels last seen in 2010, making the decline one of the clearest signs of pressure across South Africa’s retail sector.
Gareth Edwards and Francis Herd examine what the number reveals about consumers whose salaries have not kept pace with living costs and whose incomes are increasingly committed to debt.
Clothing may still be necessary, but it is losing priority against food, transport, electricity and monthly repayments.
Traditional retailers are also competing with cheaper fast-fashion platforms, raising a difficult question about whether South Africa can protect local businesses without making clothing less affordable for the people expected to support them.
Store credit may no longer bridge that gap.
The episode cites figures suggesting that 41% of credit-active consumers are in default, while 53% may be carrying unsustainable debt.
Consumers are cutting dining out, travel, entertainment, subscriptions and retail purchases.
TFG has already lost R24 billion.
What happens when a consumer retreat becomes a company crisis, and the next adjustment reaches jobs?
Catch up on all Number of the Day episodes here: https://www.enca.com/number-day-podcast
Chapter List
(00:00) TFG Loses R24 Billion in Market Value
(01:25) When Clothing Stops Being Essential
(03:02) Why More Store Credit Is Not the Answer
(03:27) The Debt Crisis Behind Falling Retail Spending
