Planet Retail 8 Jan 2008

Kenyan retailer Uchumi is working on a turnaround that will see the debt ridden retailer open nine more branches with an additional five branches in Uganda, Tanzania and Southern Sudan. This is in an attempt to regain its lost glory and market share. The aggressive growth plan is expected to push the retailer to second position, currently held by Ukwala in the Kenyan market. According to the local press, details of the fresh turnaround are contained in Uchumi's five year plan and the local expansion is expected to lift the loss-making retailer's profits to KES635 million (USD9.8 million) by 2010. Uchumi is also set to break its long stretch of losses in June 2008.

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