High street haven, Marks & Spencer, is set to invest an additional £30 million in its London store estate over the next year, creating 100 new jobs.

The retailer will be revamping 12 existing shops in London as well as opening food halls in Sidcup and Friern Barnet this year.

Teddington, Blackheath, Islington and Chancery Lane will all be undergoing renovations. The refreshed stores will have bigger in-store bakeries and flower shops as well as click-and-collect services.

Sacha Berendji, Operations Director at M&S, said: “We cannot wait to bring the magic of M&S to even 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.”

Last week, it was revealed that Marks & Spencer delivered a 58% leap in profit before tax to £672.5 million in the year to 30 March 2024. Overall sales at the high street giant were up 19.3% to £13 billion while the turnaround in fashion was evident with a 5.3% increase in turnover at Clothing & Home.

Its Clothing & Home division, which has been undergoing a renaissance in recent seasons, also delivered greatly improved profit with adjusted operating profit for the division clocking in at £402.8m, compared to last year’s £323.8m, representing a margin of 10.3%.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *