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Uchumi - A value play?
Ericsson
#321 Posted : Wednesday, December 13, 2017 11:02:22 AM
Rank: Elder


Joined: 12/4/2009
Posts: 4,129
Location: NAIROBI
http://kenya.uchumicorpo...s/stories/restock22.pdf

Restocking being done after Julius Kipngetich left.
Wororo
#322 Posted : Wednesday, December 13, 2017 12:36:40 PM
Rank: New-farer


Joined: 1/30/2011
Posts: 58
Swenani
#323 Posted : Thursday, January 25, 2018 8:43:36 PM
Rank: User


Joined: 8/15/2013
Posts: 12,020
Location: Vacuum
capital centre to be closed end month

Quote:
Uchumi Supermarkets UCHM • 3.55 ▼ 6.58% is set to close its Jipange (Ruaraka) and Capital Centre branches at the end of this month and seek out space at more profitable locations.

The retailer, which is in the market for an equity investor to bail them out, says it will not renew the leases for the two low-performing outlets when they come to an end next Wednesday.

Uchumi has been an anchor tenant at Mombasa Road’s Capital Center Mall for over two decades while the Jipange shop (located along Thika Road) has been operational for over five years.
"If you're tired of arguing with strangers on internet, try talking to one of them in real life"-Barack Obama 10th January 2017
Ericsson
#324 Posted : Thursday, January 25, 2018 8:56:13 PM
Rank: Elder


Joined: 12/4/2009
Posts: 4,129
Location: NAIROBI
No investor so far
Ericsson
#325 Posted : Thursday, January 25, 2018 9:34:55 PM
Rank: Elder


Joined: 12/4/2009
Posts: 4,129
Location: NAIROBI
Sarit center branch to be closed in April
Pesa Nane
#326 Posted : Thursday, January 25, 2018 9:59:19 PM
Rank: Elder


Joined: 5/25/2012
Posts: 3,476
Location: 08c
Pesa Nane plans to be shilingi when he grows up.
Ericsson
#327 Posted : Thursday, January 25, 2018 11:00:19 PM
Rank: Elder


Joined: 12/4/2009
Posts: 4,129
Location: NAIROBI
Pesa Nane wrote:


Seems the capital center management forced Uchumi out by the renovations they were doing
Nairobi Hospital is set to take up the space
VituVingiSana
#328 Posted : Friday, January 26, 2018 7:49:27 AM
Rank: Chief


Joined: 1/3/2007
Posts: 13,609
Location: Nairobi
Ericsson wrote:
Sarit center branch to be closed in April

That was Uchumi's flagship branch. When it opened there was so much excitement as it was the first of its kind [large, airy, in a shopping mall, well-stocked, etc] in EAC.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#329 Posted : Friday, January 26, 2018 7:53:54 AM
Rank: Chief


Joined: 1/3/2007
Posts: 13,609
Location: Nairobi
Ericsson wrote:
Pesa Nane wrote:


Seems the capital center management forced Uchumi out by the renovations they were doing
Nairobi Hospital is set to take up the space

Not surprising. A good move by CC. Replacing Uchumi with Naivas, Tuskys or Carrefour would boost traffic/footfall to the mall.
I read that Sarit wants a larger supermarket i.e. one that can take up more space and if Uchumi can't hack it then Carrefour (or Tuskys/Naivas) may take over the expanded space. I passed by SC and it seems they are increasing the mall's lettable space 3x.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#330 Posted : Friday, January 26, 2018 8:13:50 AM
Rank: Elder


Joined: 12/4/2009
Posts: 4,129
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
Pesa Nane wrote:


Seems the capital center management forced Uchumi out by the renovations they were doing
Nairobi Hospital is set to take up the space

Not surprising. A good move by CC. Replacing Uchumi with Naivas, Tuskys or Carrefour would boost traffic/footfall to the mall.
I read that Sarit wants a larger supermarket i.e. one that can take up more space and if Uchumi can't hack it then Carrefour (or Tuskys/Naivas) may take over the expanded space. I passed by SC and it seems they are increasing the mall's lettable space 3x.


Carrefour is taking over. Tuskys and Naivas go cheap malls.
Gathige
#331 Posted : Saturday, January 27, 2018 4:21:11 PM
Rank: Veteran


Joined: 3/29/2011
Posts: 1,789
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Pesa Nane wrote:


Seems the capital center management forced Uchumi out by the renovations they were doing
Nairobi Hospital is set to take up the space

Not surprising. A good move by CC. Replacing Uchumi with Naivas, Tuskys or Carrefour would boost traffic/footfall to the mall.
I read that Sarit wants a larger supermarket i.e. one that can take up more space and if Uchumi can't hack it then Carrefour (or Tuskys/Naivas) may take over the expanded space. I passed by SC and it seems they are increasing the mall's lettable space 3x.


Carrefour is taking over. Tuskys and Naivas go cheap malls.



Carrefour seems to have made a very timely decision to move in the Kenyan market at a time when other retailers were in a decline.

"Things that matter most must never be at the mercy of things that matter least." Goethe
obiero
#332 Posted : Saturday, January 27, 2018 4:50:37 PM
Rank: Elder


Joined: 6/23/2009
Posts: 8,189
Location: nairobi
VituVingiSana wrote:
Ericsson wrote:
Sarit center branch to be closed in April

That was Uchumi's flagship branch. When it opened there was so much excitement as it was the first of its kind [large, airy, in a shopping mall, well-stocked, etc] in EAC.

I remember that moment and the pride that came with it.. Now we are forced to buy frozen samosa pastry from Nice and tinned beans from Qubec. Sigh..
www.winda.co.ke
VituVingiSana
#333 Posted : Sunday, January 28, 2018 4:07:08 PM
Rank: Chief


Joined: 1/3/2007
Posts: 13,609
Location: Nairobi
obiero wrote:
VituVingiSana wrote:
Ericsson wrote:
Sarit center branch to be closed in April

That was Uchumi's flagship branch. When it opened there was so much excitement as it was the first of its kind [large, airy, in a shopping mall, well-stocked, etc] in EAC.

I remember that moment and the pride that came with it.. Now we are forced to buy frozen samosa pastry from Nice and tinned beans from Qubec. Sigh..

That doesn't make me much older than you! I think SC opened up in 1981 (or so)...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#334 Posted : Monday, January 29, 2018 12:09:10 AM
Rank: Elder


Joined: 12/4/2009
Posts: 4,129
Location: NAIROBI
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
Ericsson wrote:
Sarit center branch to be closed in April

That was Uchumi's flagship branch. When it opened there was so much excitement as it was the first of its kind [large, airy, in a shopping mall, well-stocked, etc] in EAC.

I remember that moment and the pride that came with it.. Now we are forced to buy frozen samosa pastry from Nice and tinned beans from Qubec. Sigh..

That doesn't make me much older than you! I think SC opened up in 1981 (or so)...


@vvs it's not when Sarit center opened but when uchumi opened a branch there which was in the late 90s early 2000.
The space which uchumi occupies is Sarit center phase 2
wukan
#335 Posted : Monday, January 29, 2018 7:00:37 AM
Rank: Member


Joined: 11/13/2015
Posts: 533
Ericsson wrote:
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
Ericsson wrote:
Sarit center branch to be closed in April

That was Uchumi's flagship branch. When it opened there was so much excitement as it was the first of its kind [large, airy, in a shopping mall, well-stocked, etc] in EAC.

I remember that moment and the pride that came with it.. Now we are forced to buy frozen samosa pastry from Nice and tinned beans from Qubec. Sigh..

That doesn't make me much older than you! I think SC opened up in 1981 (or so)...


@vvs it's not when Sarit center opened but when uchumi opened a branch there which was in the late 90s early 2000.
The space which uchumi occupies is Sarit center phase 2


Can't be late 90's I was doing minimum wage jobs over the xmas period and Uchumi was already there
VituVingiSana
#336 Posted : Monday, January 29, 2018 10:22:29 AM
Rank: Chief


Joined: 1/3/2007
Posts: 13,609
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
Ericsson wrote:
Sarit center branch to be closed in April

That was Uchumi's flagship branch. When it opened there was so much excitement as it was the first of its kind [large, airy, in a shopping mall, well-stocked, etc] in EAC.

I remember that moment and the pride that came with it.. Now we are forced to buy frozen samosa pastry from Nice and tinned beans from Qubec. Sigh..

That doesn't make me much older than you! I think SC opened up in 1981 (or so)...


@vvs it's not when Sarit center opened but when uchumi opened a branch there which was in the late 90s early 2000.
The space which uchumi occupies is Sarit center phase 2

Uchumi was the anchor tenant in SC when (or soon after) SC opened up. Then Uchumi "relocated" to the larger space after SC was expanded [Phase 2?] It was an extremely busy store modeled on Sainsbury.

The SC store was up and running when Uchumi went public in the early 90s. It might have been their flagship store. I recall the huge dividends when T-Bills were yielding 50-80% (mid-90s) and Shah made sure Uchumi was cash-rich.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
obiero
#337 Posted : Friday, February 09, 2018 11:01:22 PM
Rank: Elder


Joined: 6/23/2009
Posts: 8,189
Location: nairobi
Kipngetich was a hired crook out to finish Uchumi.. The exchange bar called him out but blindness afflicts the African mind https://www.businessdail...97352-v1g8daz/index.html
www.winda.co.ke
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