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Spinneys eyes Lebanon expansion

Regional retail chain, Spinneys has reaffirmed plans to expand in Lebanon despite "tough economic times" that saw sales growth flattening for the first time last quarter, after four years of impressive double-digit growth, The Daily Star has reported. Between 2006 and 2011, Spinneys experienced very high growth at above 20% annually in sales volumes. "Lebanon has ups and downs. It is a small country that is affected by what happens in its neighbours. But our strategy will not change; we have invested more than $60m and much more in invested profits. Not one single dollar taken in dividends," said CEO of Spinneys, Michael Wright.