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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: 5,662
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: Member


Joined: 1/30/2011
Posts: 191
Swenani
#323 Posted : Thursday, January 25, 2018 8:43:36 PM
Rank: User


Joined: 8/15/2013
Posts: 12,662
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.
Poverty is the root of all evil
Ericsson
#324 Posted : Thursday, January 25, 2018 8:56:13 PM
Rank: Elder


Joined: 12/4/2009
Posts: 5,662
Location: NAIROBI
No investor so far
Ericsson
#325 Posted : Thursday, January 25, 2018 9:34:55 PM
Rank: Elder


Joined: 12/4/2009
Posts: 5,662
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: 3,933
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: 5,662
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: 14,907
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: 14,907
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: 5,662
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: 1,905
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: 10,632
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..
COOP 5,500; KCB 2,500; KQ 95,000
VituVingiSana
#333 Posted : Sunday, January 28, 2018 4:07:08 PM
Rank: Chief


Joined: 1/3/2007
Posts: 14,907
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: 5,662
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: 863
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: 14,907
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: 10,632
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
COOP 5,500; KCB 2,500; KQ 95,000
obiero
#338 Posted : Wednesday, May 02, 2018 9:59:27 AM
Rank: Elder


Joined: 6/23/2009
Posts: 10,632
Location: nairobi
Farewell Uchumi.. Kenyans tried all we could to support you, but time is up
COOP 5,500; KCB 2,500; KQ 95,000
sparkly
#339 Posted : Friday, May 25, 2018 6:54:13 AM
Rank: Elder


Joined: 9/23/2009
Posts: 6,424
Location: Enk are Nyirobi
mkonomtupu wrote:
sparkly wrote:
mkonomtupu wrote:
Gatheuzi wrote:
sparkly wrote:
www.businessdailyafrica.com/Corporate-News/Uchumi-acquires-Dar-supermarket-in-growth-drive/-/539550/2509572/-/24g47z/-/index.html

Uchumi on an acquisition spree.

While Shoprite is exiting TZ.

They have not paid suppliers in Kenya.

They have taken loan of KES 600m from KCB.

Acquisition was financed by debt.

Rights issue to expand into small and insignificant markets of Rwanda Burundi.

Shareholders should be very afraid... Insolvency 2.0 coming soon.


A loan at 18% interest from KCB. And another 405M from Coop bank. That means close to 200M per annum will go in payment of interest leave alone the principal. I wish they were applying the rights to reduce these expensive loans. We have bonds, so why not consider such or place a commercial paper


What insolvency d'oh! d'oh!? if your annual turnover is 14 billion, your annual profits 400 million, and you are borrowing 1 billion secured by 2.2 billion assets. Stop fearing leverage.



If your suppliers have claims to your 2.2B assets and you only get 2.85% return from your 14B turnover, then you have a problem.


Aiii wee mboss... in retail you look at credit lines in most suppliers tell you lets put this on the shelf once sold pay us. Anyway looking at the IM Uchumi paid 675m to GoK and 956m to KCB and PTA banks without default or insolvency.

Management says "with benefit of hindsight, the management now observes strict controls on debt management" You can see this from the fact that the ICDC loan of 300m about 109m has been paid and balance outstanding at 191m
KCB overdraft of 200m and short term of 600m- 150m repaid balance of 650m

Now turning to Tanzania, sales grew 10%. The TZ economy grew at 7% in the last 2 years and the formal retail penetration is less than 10%. Now that's huge potential even if it was to get to Kenya's 30% penetration.

Uchumi shareholders d'oh! d'oh! d'oh! you will make me rich again


@Mkonomtupu Uchumi trades at 1.80. Do you still see value?
Life is short. Live passionately.
sparkly
#340 Posted : Friday, May 25, 2018 7:02:08 AM
Rank: Elder


Joined: 9/23/2009
Posts: 6,424
Location: Enk are Nyirobi
watesh wrote:
The day i will go to Uchumi and find everything i want is the day i will invest, otherwise still waiting patiently for that Nakumatt listing on the stock market



Irony is that Nakumatt tapped out before Uchumi.
Life is short. Live passionately.
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