British multinational retailer Marks and Spencer (M&S) will be investing around £480 million in bigger, improved stores across the UK. The retailer’s investment will generate over 3,400 new jobs across the country. At its recent investor day, M&S shared its ambition to accelerate what is a five-year store rotation programme and target a delivery within three years by 2025-26.
As part of its programme acceleration, M&S has already identified a pipeline of 20 new bigger, better stores to be opened in the next financial year, according to a press release by the company.
Stuart Machin, chief executive of M&S, commented: “Stores are a core part of M&S’s omni-channel future and serve as a competitive advantage for how customers want to shop today. Our store rotation programme is about making sure we have the right stores, in the right place, with the right space and we’re aiming to rotate from the 247 stores we have today to 180 higher quality, higher productivity full line stores that sell our full clothing, home, and food offer whilst also opening over 100 bigger, better food sites.
“The out performance of our recently relocated and renewed stores, give us the confidence to go faster in our plan. Our investment in stores not only delivers a better experience for customers and colleagues, it boosts local communities with new job creation and will help us deliver a more sustainable estate in every sense.”
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