M&S to invest £300m this year into store estate
Marks & Spencer is set to invest £300m into its store estate this year, as it plans to open 16 new stores.
The new stores comprise 12 food halls, two full-line stores, and two outlets. These include the previously announced full-line stores in Bath Southgate and Bristol Cabot Circus, and new food halls in Bell Green Sydenham, Abingdon, Cannock, and Farnham.
M&S will also extend nine existing stores and renew a further 12.
Over the last year, the retailer has signed deals for 47 new and renewed stores, set to open by the 2028 financial year – more than the previous three years combined.
M&S said it is continuing to identify new locations to further fulfil its pipeline of new stores, with over 300 new locations being considered by the retailer.
Stuart Machin, CEO of M&S, said: “This year we are stepping up the pace of our programme and investing over £300m to rotate and renew stores across the country. We have a rigorous strategy to make sure we have the right stores in the right places, and this year we will deliver 37 new and renewed stores with the best of our food, fashion and home and beauty to our 32 million customers.”