Marks & Spencer plans to invest over £30 million in its London stores this financial year, aiming to enhance customer experience and expand operations.
- The investment includes opening two new foodhalls in Sidcup and Friern Barnet in June and August 2024, respectively.
- Twelve existing stores in locations like Chancery Lane and Islington are set for modernisation and renewal.
- The initiative is part of a larger strategy to open new full-line stores, foodhalls, and refurbish 25 stores across the UK.
- This expansion is expected to create approximately 100 new jobs in the capital.
Marks & Spencer has committed to a significant investment of over £30 million in its London-based stores throughout this financial year. This move is poised to improve the shopping experience and strengthen the retailer’s presence in the city. The introduction of two new foodhalls in Sidcup and Friern Barnet is scheduled for June and August 2024, respectively, marking a notable expansion in key areas.
Alongside new openings, 12 existing stores situated in areas such as Chancery Lane, Teddington, Blackheath, and Islington will undergo substantial modernisation and renewal. These efforts are designed to revitalise the stores, making them more appealing and efficient for customers.
This ambitious venture aligns with M&S’s broader strategy, which includes the development of up to four new full-line stores, the addition of nine new foodhalls, and comprehensive refurbishments across 25 locations throughout the UK. Such strategic expansion reflects the company’s commitment to enhancing its retail footprint on a national level.
Each of the 12 modernised London stores will incorporate click & collect facilities, providing customers with a seamless and convenient shopping experience. This feature is geared towards meeting the evolving demands of today’s consumers, who value flexibility and speed.
Sacha Berendji, operations director at M&S, expressed enthusiasm about the expansion, stating, “We cannot wait to bring the magic of M&S to even more customers across the capital.” The company’s recent financial results underscore its successful trajectory, with a reported profit of £716.4 million before tax and adjusting items. The clothing and home division saw a sales increase of 5.3%, boosting adjusted operating profit by 21% to £402.8 million.
The substantial investment by M&S signifies a strategic expansion in London, promising enhanced customer experiences and increased job opportunities.
