Spinneys sees revenue spike on new store openings, higher online sales

Dubai: Spinneys posted a 12.8% rise in revenue to Dh2.6 billion, driven by higher like-for-like sales, online growth, and the contribution of new stores.

Spinneys continued to accelerate its store network growth, adding ten new outlets in 2025. The company recently opened two more stores in Dubai—Spinneys Bay Square in Business Bay and The Kitchen by Spinneys at Dubai Airport Free Zone.

The supermarket chain currently active in the UAE, Saudi Arabia, Egypt, Qatar, Lebanon and Oman is also expanding beyond the Gulf for the first time through a partnership with the Ayala Group in the Philippines, marking its entry into Southeast Asia.

The retailer also recently revealed plans to enter Kuwait through a joint venture with Alshaya Group, holding a 51% controlling stake. Ten stores are planned within five years, with the first opening in 2026.

Chief Executive Officer Sunil Kumar said the company’s growth reflected its focus on expanding store formats, strengthening private label and fresh food offerings, and embedding digital innovation.

“Our entry into Kuwait and the Philippines represents a major step in our regional and international journey,” Kumar said.

Profit before tax increased 24.4% to Dh253 million, while net profit rose 16.4% to Dh212 million, reflecting a 6% impact of additional corporate tax under the Pillar Two minimum tax framework.

Transaction volume grew 12.3% to 30.3 million, reflecting strong customer demand. The average basket size edged slightly lower to Dh84.2, attributed to smaller-format convenience stores that focus on quick and high-margin food offerings.