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FINANCIAL NEWS
Spinneys to open stores in Saudi, Kuwait
10 Apr 2013
(MENAFN) Spinneys CEO, Richard Wright, announced that the Beirut-based retailer will launch a number of grocery stores in both Saudi Arabia and Kuwait over the coming decade, reported Arabian Business.
Wright said that Spinneys eyes 10 stores in different Saudi cities, including Jeddah and Riyadh.
The CEO added that in 2013, Spinneys’ inked a memorandum of understanding with a partner in Kuwait to launch their first store in the emirate, which should come on-line in 2014.
He added that the high-end chain, which has a network of stores across Lebanon, Egypt, Jordan and Qatar, is also expanding its presence in existing markets.
It is worth noting that in 2012, the privately held retailer’s revenue jumped by over 20 percent.
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Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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