M&S is to invest more than £30m into modernising and expanding its London store estate this year as it continues with its store rotation programme.
The high street retailer said will open two new food halls and renew up to 12 existing stores across the capital, including Blackheath, Chancery Lane, Islington and Teddington.
It said the move will create an estimated 100 new jobs.
As part of its plans, M&S will open a 7,200 sq ft fresh-market style foodhall in Sidcup on June 19, followed by an 18,000 sq ft location in Friern Barnet in August.
It said its 12 renewal stores will benefit from bigger in-store bakeries, dedicated flower and wine shops and click-and-collect facilities.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
The investment is part of M&S’ store rotation programme aimed at creating 180 “higher quality, higher productivity full-line” stores and 420 food halls.
The retailer added that alongside the investment into its owned estate, it will also expand its convenience offer, which is delivered through its franchise model. It is set to renew more than 15 London outlets this year.
M&S operations director Sacha Berendji said: “We cannot wait to bring the magic of M&S to even more customers across the capital.
“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 multi-million-pound investment and showcasing the very best of M&S quality, value and innovation.”
Last week, the retailer reported a 58% surge in pre-tax profits to £716.4m as its strategy to reshape the business delivered strong sales growth across its clothing and food divisions.
Click here to sign up to Retail Gazette‘s free daily email newsletter
