M&S has said it will invest over £90million in its London store network, with a pipeline of new stores set to create 450 new jobs. As well as earmarking new store openings, it will also renew eleven London stores in addition to opening six new food halls.
M&S’ store renewal programme aims to ensure the retailer has the right stores in the right places and is a key pillar in the retailer’s transformation as it reshapes for growth. This is the second round of investment M&S has made into its London bricks-and-mortar estate, having invested £30million in London stores last year, in addition to the £50million investment in its Northwest shops it announced earlier this year.
Brand new Foodhalls in Covent Garden, Leytonstone, Clapham Common, Putney, New Malden and Fulham Broadway are set to open over the next few years, pending planning permission. These new Foodhalls and its wider store extensions will add over 70,000sqft to its London store network. The retailer currently has over 100 stores across the capital, and M&S’ food market share in London (4.5%) is higher than other UK cities.
“London has always been a special place for M&S, growing from penny bazaars in the early 20th century into fresh Foodhalls,” Sacha Berendji, Operations Director at M&S, said.
“We serve thousands of customers in the capital across our full line offering in larger stores on Oxford Street, which are soon to be redeveloped, to food on the move in train stations. Our pipeline of stores demonstrates our continued investment in London, and we will continue to bring the best of M&S to customers from Brixton to Barnet for years to come.”
Sacha Berendji, Operations Director, M&S
All stores will feature the latest in-store designs to bring more of the M&S Food range to customers, with market-style fruit and veg, large bakeries and fresh coffee-to-go as well as expanding its omnichannel offer with Click and Collect counters, allowing shoppers to pick up ecommerce orders.
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