M&S is opening new stores across the United Kingdom that are designed “with families in mind” as part of a massive investment that could revitalize abandoned Debenhams storefronts on High Streets and within famous shopping centers.
Marks & Spencer will establish twenty new stores and generate thousands of new jobs thanks to a £480 million investment in its locations.
This year, the business will launch new M&S stores in former Debenhams locations in Leeds, Liverpool, Manchester, Birmingham, and Thurrock.
According to M&S, more than 3,400 jobs will be generated over the next three years.
COVID-19 lockdowns proved to be the final straw for the department store chain Debenhams in May 2021.
However, M&S has recently revealed expansion plans that could revitalize several defunct Debenhams stores.
Full M&S stores will be established in the White Rose shopping center in Leeds, the ONE shopping center in Liverpool. The Bullring in Birmingham, the Trafford Centre in Manchester, and the Lakeside shopping center in West Thurrock.
The new shops in Leeds and Liverpool will open in the summer, followed by the new store in Birmingham in the fall. M&S announced that the Manchester and Thurrock stores will open by the end of 2023.
This year, Marks & Spencer will also build 12 new food halls. There are plans for food establishments in Stockport, Barnsley, South Yorkshire, and Largs, North Scotland.
In addition to expanding its food selection through franchise partnerships. The department store stated it will continue to sell its convenience foods in Costa Coffee shops and gas stations.
‘Bigger and better’ shops
The better-than-expected performance of “recently moved and renovated stores” gave M&S the confidence to “proceed faster” with its plans for change, according to the retailer.
It was stated that each of the larger new stores was constructed “with local families in mind”. With broader aisles and larger apparel and home departments to facilitate easier browsing by customers.
While new, larger stores are being constructed, the total number of M&S brick-and-mortar locations will decrease from 247 to 180 “higher quality, greater productivity full-line stores that carry our whole clothes, home, and food offer, as well as over 100 larger, better food sites.”
Additionally, the stores will have new M&S cafes, sustainability initiatives such as Fill Your Own, and free parking.
Marks & Spencer’s £480m investment
Along with online trading, the company’s chief executive Stuart Machin said that storefronts were a “vital element” of its future.
“Our store rotation program is designed to ensure that 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 entire clothing, home, and food offering, while also opening over 100 larger, better food sites,” he explained.
In Colchester and Llandudno, clothing and house sales exceeded expectations. While the recently expanded M&S food store in Harrogate outperformed by 26%.
In the final three months of the previous year, M&S outlets experienced increasing sales, as indicated by the robust figures.
Comparable food sales increased by 6.3% in the 13 weeks leading up to December 31. The brand’s clothes and home goods achieved its highest market share in seven years, with an 8.6% growth in sales.
M&S reported a sharp decline in profits in November and warned of a “brewing storm” due to growing expenses and tightening customer budgets.
Despite an 8.5% increase in overall revenue, the company’s profit before taxes. And adjusting items was 24% lower for the six months ending on October 1, at £205.5 million.
