M&S to invest £30m into London estate
Marks & Spencer has announced plans to invest £30m in its London estate over the next year.
The retailer said it will refresh 12 of its existing shops in the capital, whilst also opening new food hall stores in Sidcup and Friern Barnet.
The Sidcup store will span 7,200 sq ft and is expected to open shortly, whilst the 18,000 sq ft Friern Barnet store is set to open in August.
Other stores identified as part of the retailer’s modernisation programme include shops in Teddington, Blackheath, Islington and Chancery Lane.
The refreshed stores are set to host larger in-store bakeries, as well as flower and wine shops. The stores will also offer click-and-collect services.
Sasha Berendji, operations director at M&S, said: “We cannot wait to bring the magic of M&S to more customers across the capital. Expanding our presence in London is a key part of our growth strategy – our market share in food is higher here than any region in England and there is plenty of untapped potential.”
This comes off the back of a strong showing in the retailer’s annual results, with chief executive Stuart Machin hailing “the beginnings of a new M&S”. M&S said stores that were renewed in 2022/23 saw sales increase by a further 14% last year, with healthy customer metrics for both frequency and basket size.