Uchumi Supermarkets is set to explore the e-commerce sector to maximize profit and reduce operational costs, Business Daily reports.
Acting chief executive officer Mohamed Mohamed said the supermarket is in the process of creating an online platform in the third quarter of the year.
Mr Mohamed was speaking during a press briefing after the firm’s 38th AGM Thursday.
“Recent reports show that one out of four Kenyans shops online. We are now working on improving our presence in the online space, by unveiling an app and selling on the social sites to take advantage of the online space,” said Mr Mohamed.
This latest announcement comes in the wake of Sh1.7 billion loss which the supermarket posted for 2016/17 financial year, a 39 per cent drop from Sh2.8 billion recorded in the previous year.
Mr Mohamed said that despite cost cutting measures taken by the firm last year’s political activity weighed heavily on the company’s performance.
The retailer’s pre-tax loss for the half year also widened to Sh895 million, a 63 per cent increase from Sh547 million when compared to a similar period last year. This is despite closing four branches among them the Sarit branch during the period under review.
“Our combination of turnaround strategies continues to slowly stabilise our operations, and we are actively seeking to bring the company to a positive and sustainable position,” he said.