| Published Thu, November 16th 2017 at 00:00, Updated November 15th 2017 at 22:08 GMT +3Uchumi Supermarket, Capital Centre, Nairobi. The drop in sales had been affected by closure of some branches and reduced stocks. In the financial year under review, Uchumi sold goods worth Sh2.14 billion - 61 per cent lower than the cost of sales worth Sh5.45 billion in the previous financial year. ALSO READ: Chase Bank staff stare at job lossesWith about 15 branches closed, the retailer managed to reduce expenses by 42 per cent or Sh1.53 billion to Sh2.1 billion. Working capital, a difference of current assets and current liabilities, fell further into a negative position to stand at Sh6.2 billion.

Source: Standard Digital November 15, 2017 21:00 UTC