Logo of The Development Works Food Co. (DWF)
Development Works Food Co. (DWF) announced today, Oct.17, the results of its branch performance assessment program, which included the closure of three “Juice Time” branches and the opening of a new one, as well as the inauguration of two “Quiznos Sub” branches in Riyadh.
The company implemented a new branch performance assessment program that considers each branch's location, sales and all associated costs and profits, according to a Tadawul statement.
DWF also reviewed costs associated with the operation to ensure consistency with the volume of work and constant changes in the food and beverage sector.
The company announced the results of its branch performance assessment program, which included the closure of three “Juice Time” branches due to their inability to meet the company's targets.
Two “Juice Time” branches were relocated to more affordable locations in Jeddah and Al-Kharj governorates. In Jeddah, the branch was moved from its current location to a neighboring one in the Muhammadiyah district on Prince Sultan Street for a lower rent.
In Al-Kharj, the branch was moved to a nearby location on Al-Burj Street for a lower rent.
Additionally, a new “Juice Time” branch was opened in Riyadh on King Abdullah Road in the Seville neighborhood, Al-Waha Plaza.
Two “Quiznos Sub” branches were also opened in Riyadh, one in the Al-Narjis district on Abu Bakr Al-Siddiq Road in the Daam Complex and the other in the Al-Nahda neighborhood on Prince Bandar Road.
The assessment reduced the company’s workforce by 23 employees to improve current and 2024 profitability margins. The operating hours of some branches were modified to ensure that the required targets were met.
New products were added to the “Juice Time” brand, including ice cream, Maritozzi, and ACAI fruit.
DWF has 48 “Juice Time” branches and 10 “Quiznos Sub” branches across the Kingdom. “Juice Time” and “Quiznos” franchises collectively total nine and three branches, respectively.
The company expects these changes will reflect positively on its revenues and profit margins starting from the first half of next year.
The branch performance assessment program reflects DWF’s commitment to inform its shareholders of its operational plan and provide nutritious and high-quality foods and drinks to promote a healthy society.
Comments
{{DisplayName}}
{{ElapsedTime}}