Marks & Spencer is ramping up its store investment with £300m dedicated to the renewal of its outlets in the current financial year. The plan includes 16 new stores, nine extensions, and 12 renewals. The new locations will feature improved store formats, with wider aisles, enhanced entrances, and modern shelving displays.
The expansion involves 12 food halls, two full-line stores, and two outlet stores. New full-line stores are set to open in Bath Southgate and Bristol Cabot Circus, while new food halls will be introduced in Bell Green, Sydenham, Abingdon, Cannock, and Farnham.
This renewed activity comes as M&S has signed 47 property deals in the last year, surpassing the combined total of the previous three years. The company is also reviewing over 300 potential new locations in the UK as part of its goal to optimise its estate, aiming for 180 full-line stores and 420 food halls by the end of the 2028 financial year.
In the East Midlands, M&S is focused on bolstering its distribution capacity. The company plans to replenish its Castle Donington warehouse, its main distribution centre for clothing and homeware, by August. Additionally, M&S is recovering from a cyber attack that disrupted its online operations, which led to a pause in customer orders for nearly seven weeks. The retailer aims to have its online platform fully operational within the next four weeks. The cyber attack is expected to cost the company £300m, though it is working to recover around £150m through cost management, insurance, and other trading actions.
