INVESTOR RELATIONS

Financial Performance

Financial Performance: Last 8 years

Years ended	2002	2003	2004	2005	2006	2007	2008	2009
Retail turnover (Rm)	3 289,9	3 880,6	4 410,0	5 279,3	6 432,1	7 230,0	7 668,7	8 089,6
Retail turnover growth %	10,4	18,0	13,6	19,7	21,8	12,4	6,1	5,5
Compound retail turnover growth %						15,9	14,5	13,7
Operating profit before finance charges (Rm)	348,5	582,0	814,6	1 204,8	1 567,3	1 887,0	1 905,5	2 025,5
Headline earnings per share (cents)	87,9	162,2	237,1	359,6	463,0	534,2	547,0	559,5
HEPS % increase	75,4	84,5	46,2	51,7	28,8	15,4	2,4	2,3
Compound HEPS growth %						48,4	40,7	30,3
Dividends per share (cents)	31,0	56,0	94,0	164,0	220,0	270,0	288,0	288,0

Financial Highlights and Salient Features

% change

2009

2008

Retail turnover (Rm)

5,5

8 089,6

7 668,7

Operating profit before finance charges (Rm)

6,3

2 025,5

1 905,5

EBITDA (Rm)

6,9

2 256,6

2 110,2

Profit before tax (Rm)

(0,6)

1 775,7

1 786,3

Headline earnings (Rm)

1,5

1 145,8

1 128,4

Profit attributable to equity holders of Foschini Limited (Rm)

1,5

1 145,8

1 128,4

Total shareholders’ interest (Rm)

16,9

4 496,3

3 845,2

Total equity

17,4

4 855,5

4 136,1

Total liabilities

25,1

3 808,5

3 044,4

Net borrowings

8,5

1 626,9

1 498,9

Earnings per ordinary share* (cents)

2,3

559,5

547,0

Headline earnings per ordinary share* (cents)

2,3

559,5

547,0

Tangible net asset value per ordinary share** (cents)

15,3

2 148,1

1 862,7

Dividend per share (cents) – interim

–

118,0

118,0

Dividend per share (cents) – final

–

170,0

170,0

Dividend per share (cents) – total

–

288,0

288,0

Gross number of shares in issue (millions)

240,5

240,5

Net number of shares in issue (millions)

207,3

204,6

Closing US$ conversion rate

9,33

8,14

Average US$ conversion rate

8,89

7,15

*	based on the weighted average number of shares in issue
**	based on the net actual number of shares in issue

Financial Statistics and targets

Medium-

term

target

2009

2008

Operating margin (%)

25,0

25,0

24,8

Net bad debt write-off as a % of debtors’ book – retail

8,7

8,3

ROE (%)

35,0

26,9

29,6

Current ratio (times)

3,4

2,5

Debt equity ratio (%)

40,0

33,5

36,2

Recourse debt equity ratio (%)

17,4

24,3

Total liabilities to total equity (%)

78,4

73,6

Net borrowings to EBITDA (times)

0,7

0,7

Finance charge cover (times)

8,1

15,9

EBITDA finance charge cover (times)

9,0

17,6

Dividend cover (times)

1,9

1,9

Number of stores

1 539

1 393

Square metres

467 420

410 378

Stock turn (12 month average)

– jewellery

1,7

1,7

– @home

1,8

2,0

– other

3,2

3,1

Retail turnover by merchandise category

	2009 (Rm)	2008 (Rm)	1^sthalf growth	2^ndhalf growth	% Growth	1^sthalf	2^ndhalf	2009 FY same store growth
Clothing	5 227,1	4 989,2	0,9%	9,7%	4,8%	-4,0%	3,4%	-0,4%
Jewellery	1 038,6	1 010,0	3,1%	2,7%	2,8%	-1,4%	0,9%	-1,7%
Cellphones	762,6	721,6	7,3%	4,7%	5,7%	3,5%	1,3%	2,0%
Cosmetics	552,2	488,3	12,3%	14,1%	13,1%	6,0%	7,4%	6,8%
Homeware & furniture	509,1	459,7	6,1%	15,0%	10,9%	-4,9%	1,7%	-1,4%
Total	8 089,6	7 668,7	2,9%	7,8%	5,5%	-2,5%	3,0%	0%

Segmental analysis

	2009 (Rm)	2008 (Rm)	% change
Retail	1 573,2	1 515,8	3,8%
RCS Group	202,5	269,6	-24,9%
Total profit before tax	1 775,7	1 785,41	-0,6%

Divisional review: Overall

	2009 Turnover (Rm)	1^sthalf growth	2^ndhalf growth	% FY Growth	1^sthalf same store growth	2^ndhalf same store growth	% Same store growth	Number of stores
Foschini	3 103,5	-4,2%	6,3%	1,1%	-8,8%	2,5%	-3,3%	432
Markham	1 311,7	12,6%	7,9%	10,1%	6,1%	3,5%	4,0%	223
exact!	743,5	4,8%	5,4%	5,1%	1,8%	1,9%	1,9%	198
Sports division	1 296,8	9,8%	15,1%	12,6%	3,5%	6,1%	5,3%	264
Jewellery division	1 126,0	3,9%	2,7%	3,2%	-1,7%	-1,1%	-1,4%	350
@home	508,1	6,1%	15,0%	10,9%	-4,9%	1,9%	-1,3%	72
Group	8 089,6	2,9%	7,8%	5,5%	-2,5%	3,0%	0%	1 539
Cash sales	3 089,3	8,2%	12,8%	10,7%
Credit sales	5 000,3	0,1%	4,8%	2,5%
Total	8 089,6	2,9%	7,8%	5,5%