annual report 2009

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mission, history and values

MISSION

The group’s mission is to retain leadership in cost-effective and profitable retail operations and to achieve significant growth through employee contribution, innovative differentiation, new business development, acquisition and aggressive expansion, including expansion across borders.

HISTORY

The company, which commenced trading in 1924, has been listed on the JSE Limited since 1 January 1941 and is regarded as one of the foremost independent chain store groups in the country. The company’s success is strongly driven by its desire to provide the right merchandise to the respective target markets of all its trading divisions, and its skill in achieving this objective has resulted in a successful track record. The Foschini group believes that teamwork coupled with professionalism in all aspects of retailing will continue to be the foundation for the future.

VALUES

  • the maintenance of its integrity by being honest, open and ethical in all its dealings;
  • a commitment to providing ‘exceeding service’ to customers, and giving them value for money;
  • the treatment of people with dignity and respect, ensuring a supportive and encouraging environment;
  • the belief in equal opportunity and development for all, and fair reward to people according to responsibility, effort and performance; and
  • the commitment to a self-critical professionalism, with visible and consistent standards and a constant search for performance improvement.