Marks & Spencer is to invest over £30m in its London store estate, including at least two new Foodhalls along with the modernisation of 12 existing branches.
New fresh-market style Foodhalls are set to open in Sidcup and Friern Barnet, while branches in Chancery Lane, Teddington, Blackheath and Islington are among those in line for modernisation.
The “bigger, better stores” will be completed in the 2024/25 financial year and will support about 100 new jobs, according to M&S.
The Sidcup Foodhall will be 7,200 sq ft and is due to open on 19 June. The one in Friern Barnet will be 18,000 sq ft and is due to open in August.
The 12 stores to receive renewal treatment will benefit from bigger in-store bakeries and dedicated flower and wine shops. Each will also have click & collect facilities.
The investment is part of M&S’ store rotation programme, targeting 180 “higher quality, higher productivity” full-line stores and 420 Foodhalls.
The plan includes expanding its footprint across the capital, where it currently has more than 80 owned stores and in recent years has invested over £20m in the estate.
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“We cannot wait to bring the magic of M&S to even more customers across the capital,” said M&S operations director Sacha Berendji.
“Expanding our presence in London is 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.
“Our new and renewed stores are performing ahead of forecast and attracting new customers, giving us the confidence to keep accelerating our store rotation strategy.
“As the former regional manager for London, it’s brilliant to be spearheading that acceleration in the capital through this multimillion-pound investment and showcasing the very best of M&S quality, value and innovation.”
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