Marks & Spencer to invest £30 million in London stores
Marks & Spencer is to invest £30 million in its London store estate over the next year.
The move will create around 100 jobs.
The retailer said it will be refreshing 12 existing shops in the capital and will also be opening market style food halls in Sidcup and Friern Barnet.
The 7,200 square foot Sidcup store will be opening shortly while the 18,000 square foot Friern Barnet site is expected to launch in August.
Stores identified for modernisation include shops in Teddington, Blackheath, Islington and Chancery Lane. The refreshed stores will have bigger in-store bakeries, as well as flower and wine shops, They will also offer click and collect services.
Sacha 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.”
M&S is currently implementing a store rotation programme as part of its Reshape for Growth strategy. Last week the retailer said that its investment in stores was paying off as its new sites are performing ahead of expectations.
