The Saudi Arabian hypermarkets and supermarkets chain has expanded its retail network with the opening of a new outlet in the Kingdom.
In a statement to the Saudi Stock Exchange today, the company said that its subsidiary, Danube Company for Foodstuffs and Commodities, has opened its 48th branch.
The newly-opened 5,000sq m outlet is situated in Dan Plaza, a shopping mall in the Awali District, southeast of Makkah. The recently inaugurated store is expected to increase the company’s turnover and profitability, according to BinDawood Holding.
The retailer’s net profit fell 48.7 per cent in the second quarter of 2021 to 94.9 million riyals, compared to 185.4 million riyals a year ago. The new store opening means that the company now operates a total of 75 stores across the Kingdom of Saudi Arabia.
