# The Foschini Group has announced plans to close about 280 stores across South Africa, the UK, and Australia by 2029 following a severe drop in global retail spending. The fashion giant, hit hard by international brand impairments, warns its full-year earnings per share could plunge by up to 65-percent. CEO Anthony Thunström says the strategic rationalisation is a necessary response to persistent economic headwinds across its primary markets. The closures will primarily impact underperforming locations .
The Foschini Group plans to close 280 stores across South Africa, the UK and Australia