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M&S to Invest £480m for expansion in the UK

M&S to Invest £480m for expansion in the UK

To provide in bigger, better stores across the UK, M&S will add 20 new stores in the next financial year.

The department store retailer’s investment will create over 3,400 new jobs across the country and aims to create a fit for the future M&S store estate and a seamless experience for its customers.

The new store pipeline for 2023-2024 includes 8 full-line destination stores in key city centre locations, including a new 970000 sq ft store in Leeds White Rose and a 70000 sq ft store in Liverpool ONE both due to open in Summer 2023.

Later in the year, other major stores to open include a 65000 sq ft store in Birmingham Bullring in August 2023, a 96000 sq ft store in Manchester’s Trafford Centre and a 980000 sq ft store in Lakeside Thurrock, both set to open in Winter 2023.

All five new stores will be relocated to former Debenhams sites – part of M&S’ investment to regenerate currently vacant sites.

Each store has been designed with local families in mind, with shoppers able to browse in settings with wider aisles and a clear line of sight.

Market-style food halls that stock the full M&S Food range will be housed at the new stores, along with clothing, home and beauty departments, brand-new M&S cafes, alongside sustainable innovations such as Fill Your Own.

Chief executive Stuart Machin said:

“Stores are a core part of M&S’s omnichannel 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 move comes after Marks & Spencer hailed strong Christmas trading, posting record food sales and its highest clothing and home market share for seven years.

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