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M&S Secures Former Homebase Sites For New Food Stores

Marks & Spencer is planning to open twelve new food stores on former Homebase sites across England.

The sites each have a trading space of around 20k sq. ft., and will be some of the retailer’s largest standalone food stores in the UK. Locations include Abingdon, Cannock, Farnham, Godalming, and Northampton, with openings beginning towards the end of the year.

The investment is part of M&S’s store rotation and renewal programme, which aims to create 420 bigger food stores and a “more productive” group of 180 full line stores. Half of its estate is on track to be in the renewal format by 2027/28.

Last year, M&S opened six food stores and two full line stores as well as renewing nine existing outlets. This year, the retailer, which is in the process of recovering from a significant cyber attack, plans to open ten food stores and two full line stores. A number of other stores will be updated to the renewal format.

The group noted that the new food stores enable more consumers to shop M&S’s full range, with sales outperforming target by around 20%.

M&S CEO Stuart Machin commented: “Investing in new and renewed stores is one of our key transformation priorities. Securing these highly desirable sites in priority locations will accelerate this strategy, drive further growth in our M&S food business and most importantly, give our customers the best possible M&S shopping experience.”

NAM Implications:
  • M&S is patently not missing a beat despite the cyber attack.
  • Key will be new food stores’ sales outperforming the target by around 20%.
  • Ready to achieve and maintain your fair share of resulting sales and investment?