Latest news with #Spinneys
Zawya
14 hours ago
- Business
- Zawya
Jubail Island celebrates Spinneys grand opening,
Abu Dhabi, UAE – Jubail Island Investment Company (JIIC) announced the grand opening of a new Spinneys supermarket at Souk Al Jubail, the vibrant central hub of Jubail Island. The ribbon-cutting ceremony, held earlier, was attended by Mr. Ali S Mr. Ali Saeed Juma Al Bwardy, Chairman of Spinneys, Engineer Abdulla Al Shamsi, General Manager of JIIC, and Mr. Sunil Kumar, Chief Executive Officer of Spinneys. The opening marks a significant milestone in the island's ongoing development, enhancing convenience and delivering a premium retail experience to residents and visitors alike. Engineer Abdulla Al Shamsi commented, 'Spinneys' arrival marks a pivotal moment for Jubail Island, elevating our retail offering with a brand synonymous with excellence in the UAE. Their unwavering commitment to sustainability, premium quality, and community-focused retail mirrors our own vision for a holistic, future-ready lifestyle. Together, we are not just opening a supermarket—we are creating a destination that enriches daily life for residents and sets a new benchmark for integrated living in Abu Dhabi.' The new 1,000 square-metre standalone Spinneys store, located at the main entrance of Jubail Island, features dedicated parking and is easily accessible via the Jubail Island bridge (Exit 17) on Sheikh Khalifa Bin Zayed Highway (E12). It will serve the island's growing community, as well as office workers and visitors. Mr. Sunil Kumar, CEO of Spinneys, said: 'The opening of our new store on Jubail Island marks another exciting step in our journey to bring Spinneys' fresh food promise to more communities across the UAE. We're delighted to be part of one of Abu Dhabi's most exciting new communities and look forward to welcoming customers to enjoy our fresh, premium grocery experience.' The opening of Spinneys is part of a broader vision to create a fully integrated lifestyle destination on Jubail Island, where lush landscapes and thoughtfully designed community amenities blend seamlessly. Residents can enjoy everything from parks and sports facilities to retail and dining options, all within a walkable, interconnected environment. Following Spinneys' debut, Jubail Town Centre, the island's vibrant commercial hub, will welcome a series of new openings, further enriching daily life. Here, 8,000 square metres of retail space and 18,000 square metres of offices will sit alongside premium food and beverage pavilions, wellness spaces, and a curated mix of cafés and restaurants. Every convenience is designed to be just steps away, reinforcing Jubail Island's position as one of the UAE capital's most sought-after addresses. Spinneys is a leading premium supermarket chain, working with growers worldwide to bring the finest produce to its stores and serving over 100,000 customers daily. It operates more than 65 branches across the UAE, and the Jubail Island supermarket will be the 12th store in Abu Dhabi. Owned by JIIC and developed and managed by LEAD Real Estate Developer, Jubail Island comprises six residential villages nestled among the breathtaking natural beauty and rich biodiversity of the mangroves. The low-density, low-impact landmark community offers residents convenience and amenity, seamlessly blending sustainable living, luxury, and wellness in an iconic new addition to Abu Dhabi's real estate landscape. For more information, please contact +971 2 448 0011 or email info@ About Jubail Island The Jubail Island development will be an idyllic collection of villages located between Yas Island and Saadiyat Island and will become Abu Dhabi's leading sanctuary designed to appeal to wellness and nature enthusiasts, positioned amid the rich biodiversity of the mangroves. The luxury project will offer wholesome F&B outlets and a wide range of amenities, including a beach club, a business centre, a school, a supermarket, a nursery, a specialised clinic, sports facilities, community centres, and other commercial establishments. For more information, please visit Keep up to date with the latest updates @jubailisland: Instagram Facebook
Daily News Egypt
2 days ago
- Business
- Daily News Egypt
Spinneys Opens A New Store in Hurghada
Spinneys, one of Egypt's largest and leading grocery retail chains, today announced the opening of its new store in the residential Al-Kawthar district of Hurghada. This marks Spinneys' third store in the city after the successful operation of its Senzo Mall hypermarket and Dahar district supermarket previously. The new Hurghada store is also Spinneys' 33rd overall across 11 governorates nationwide. With a total gross area of 900 sqm, the Al-Kawthar store is situated in a high income residential neighborhood characterized by its strong purchasing power. It delivers Spinneys' renowned quality across fresh produce, groceries, and home essentials. Capital and operational investments in the new branch total EGP 50 million, covering advanced cold-storage and refrigeration facilities as well as flexible merchandising systems that ensure ease of movement and an enhanced shopping experience. Shoppers will find more than 9,000 SKUs spanning fresh foods, meat, dairy, grocery, and home-ware departments. The store also offers home delivery service via Spinneys' website and mobile app, catering to both residents and tourists. This opening underpins Spinneys' ambitious expansion plan for the Egyptian market: the retailer has launched four new branches since the beginning of the year and will inaugurate a fifth store next week in Sahl Hasheesh, with five additional openings scheduled before the end of 2025. Commenting on the launch, Mohanad Adly, CEO of Spinneys Egypt, said: 'We're proud to welcome Al-Kawthar as the latest addition to our growing network in Egypt. This investment underscores our commitment to meeting the evolving needs of Egyptian consumers with the highest standards of quality and service. We believe that strengthening our store footprint and digital services will help further elevate the shopping experience for customers who have an affinity for quality and value'. The new Spinneys store opening reflects Spinneys' commitment to the Egyptian market and represents a good example for sustainable growth, leveraging modern technology at every stage of the customer journey to support Egypt's economic and tourism development.
Web Release
21-05-2025
- Business
- Web Release
'The Green Festival' at Spinneys: Students and Environmental NGOs Plant Seeds of Hope for a Sustainable Future
Spinneys strongly believes in the power of the new generation to shape a more sustainable future. On Tuesday, May 13, and Wednesday, May 14, 2025, Spinneys organized 'The Green Festival' at its Hazmieh branch. The event brought together several environmental NGOs and over 400 students from various schools to raise awareness about the importance of environmental protection and promote nature-friendly, sustainable practices. The festival offered an engaging and educational atmosphere, serving as an open space for students and NGO representatives to exchange ideas and experiences. A series of awareness activities introduced essential concepts such as sustainability, recycling, and waste management. Students had the chance to interact directly with environmental experts and learn about reusing containers, paper recycling, transforming e-waste into useful tools, and planting in recycled containers. On the occasion, Ralf El Kahe, Chief Marketing Officer at Spinneys, stated: 'With every new edition of this festival, we become more convinced that engaging students in such initiatives is the most effective way to embed sustainability values in our communities. We remain committed to supporting environmental efforts that foster positive change for individuals and society alike, while helping Lebanon align with the eco-friendly practices of leading countries.' The festival concluded with the distribution of symbolic eco-friendly souvenirs, allowing students to take home a meaningful experience filled with practical knowledge and sustainable habits they can implement and share within their families and communities. The participation of environmental NGOs played a key role in the success of the event by delivering informative and hands-on content that made environmental awareness both accessible and interactive. 'The Green Festival' is part of Spinneys' ongoing environmental initiatives launched years ago to encourage eco-consciousness among individuals and institutions. Spinneys has been a pioneer in this field, adopting sustainable solutions such as replacing plastic bags, using biodegradable shopping carts and baskets, and printing reusable promotional materials. Through such efforts, Spinneys continues to reinforce its leadership in supporting both the environment and society, with a clear vision of building a greener future for generations to come.
Gulf Business
13-05-2025
- Business
- Gulf Business
Spinneys posts record Q1 revenue as store expansion drives growth
A customer shops inside a Spinneys supermarket in Dubai. (Image credit: Getty Images) Retailer Spinneys has reported strong results for the first quarter of 2025, delivering a 10.4 per cent year-on-year rise in revenue to Dhs906.5m, up from Dhs814.8m in Q1 2024. The group's net profit for the period rose to Dhs85.2m, compared to Dhs74.7m a year earlier. Profit before tax jumped 23 per cent to Dhs101.9m, driven by revenue growth and operational efficiency gains. UAE operations remained the core revenue engine, contributing Dhs864.2m in sales. Oman generated Dhs23.1m in revenue, while operations in Saudi Arabia and sourcing markets accounted for the rest. The UAE segment also delivered Dhs107.7m in profit before tax, underscoring its dominant role in the group's earnings. Spinneys saw a healthy uptick in gross profit, which climbed to Dhs374.7m in Q1 2025 from Dhs335.6m a year earlier. The group maintained robust cash generation, with net cash from operating activities reaching Dhs189.6m. This supported a 28 per cent increase in cash and cash equivalents, which stood at Dhs242.6m at the end of March. 'We have carried the momentum we built in 2024 into 2025, and this is evident in our Q1 results,' said Sunil Kumar, CEO of Spinneys. 'The continued execution of our growth strategy has again resulted in exceptionally strong financial performance.' Kumar added that the opening of three new stores in Dubai during the quarter demonstrates 'there is still a significant white space opportunity available to us, even where our footprint is strongest.' The company declared a final dividend of Dhs100.8m for FY2024, approved in March and paid out in April 2025. Selling, general and administrative (SG&A) expenses rose to Dhs198.6m, up from Dhs187.8m in Q1 2024, with higher premises and distribution costs contributing to the increase. Meanwhile, the group booked a tax expense of Dhs16.7m — up from Dhs8m last year — as it factored in the UAE's newly implemented 9 per cent corporate tax and a global minimum top-up tax of Dhs6.5m in line with OECD Pillar Two rules. On the investment front, Spinneys spent Dhs21.7m on property, plant and equipment during the quarter, signalling ongoing expansion and modernisation. The retailer currently operates supermarkets in the UAE, Oman, and Saudi Arabia, with its DFM listing completed in May 2024 following an IPO of 900 million shares, amounting to 25 per cent of its share capital at the time.
Arabian Business
13-05-2025
- Business
- Arabian Business
New stores propel Spinneys' Q1 revenue to all-time high of $246.7mn, up 11.3%
Spinneys' first-quarter revenue hit a record high of AED906 million (US$246.7 million), increasing 11.3 per cent year-on-year. Profit before tax grew by 23.2 per cent to AED102 million (US$27.8 million), with profit for the period increasing by 14 per cent to AED85 million (US$23.1 million), after absorbing the impact of 6 per cent additional tax on applicability of Pillar Two Rules, which provides for a minimum tax of 15 per cent. Retail growth momentum The region's fresh food retailer attributed the growth to the opening of three new stores during the quarter, increased Fresh and Private Label sales, strong like-for-like growth, and higher online penetration. Like-for-like sales increased 6.7 per cent with the opening of 10 new stores across the UAE and Saudi Arabia since April 2024. Fresh and Private Label sales were strong, with penetration growing by 1 per cent and 1.2 per cent, respectively. Online sales penetration grew to 15.6 per cent during the year, as compared to 13.7 per cent in Q1 2024. Transaction volume grew by 7.8 per cent YoY to 9.9 million. The average basket size also increased – to AED92 (US$25), up 2.9 per cent compared to AED89 in Q1 2024. Sunil Kumar, Chief Executive Officer at Spinneys, commented: 'We have carried the momentum we built in 2024 into 2025, and this is evident in our Q1 results. 'The continued execution of our growth strategy has again resulted in exceptionally strong financial performance. We have achieved robust growth in revenue driven by increased like-for-like sales coupled with the expansion of our store network in the UAE and Saudi Arabia. Three new store openings in Dubai in the first quarter demonstrate that there is still a significant white space opportunity available to us, even where our footprint is strongest. 'While the UAE remains the core of our operations, we continue to explore growth opportunities throughout the GCC and look forward to more store openings in Saudi Arabia. These will include our first store in Jeddah in the second half of the year, which comes on the back of exceptionally strong consumer demand for us to expand beyond Riyadh.' Gross profit during the quarter increased by 11.7 per cent year-on-year to AED375 million (US$102.1 million), with a stable gross profit margin of 41.3 per cent, compared to 41.2 per cent in 2024. This was achieved through efficient sourcing and supply chain management and Spinneys' successful Private Label strategy, which emphasises high-margin products. Adjusted EBITDA was AED182 million, up 20.6 per cent year-on-year, with an adjusted EBITDA margin of 20.1 per cent, up from 18.5 per cent in the corresponding quarter in 2024. Spinneys maintains a positive outlook for the rest of the year, expecting to open 10-12 new stores across the UAE and Saudi Arabia by year-end. Annual revenue growth is expected to be between 9-11 per cent, driven by new store openings and like-for-like sales growth of 4-6 per cent. The company expects to maintain an adjusted EBITDA margin of 19-20 per cent.
