Deacons cuts net loss but business remains low

DEACONS Kenya's strategy of selling its flagship Woolworths collections on credit failed to lift sales to meet a targeted annual growth of 40 per cent during the first half of the year. The clothing retailer said revenues dropped 3.8 per cent during the first six month of the year to Sh781.8 million on “recurrent insecurity alerts and incidences” that kept away customers from malls. where most of their outlets are located. The firm however said it managed to cut net losses to Sh1.21 million after it "streamlined supply chain and right-sized operations". This boosted its operating margins by...