UK retailer M&S has announced its £480 million investment plan for the 23/24 financial year. It will see 20 new stores and over 3,400 jobs generated.
“Stores are a core part of M&S’s omnichannel future and serve as a competitive advantage for how customers want to shop today. Our store rotation programme is about making sure 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 full Clothing, Home and Food offer whilst also opening over 100 bigger, better food sites,” said Stuart Machin, M&S Chief Executive.
“The outperformance of our recently relocated and renewed stores, give us the confidence to go faster in our plan. Our investment in stores not only delivers a better experience for customers and colleagues, it boosts local communities with new job creation and will help us deliver a more sustainable estate in every sense.”
The plan also includes increased application of the Scan & Shop technology, which allows customers to use their phones to scan and bag food as they shop. It is currently used by 33,000 customers weekly.
A partnership with BP Pulse will see more ultra-fast EV charging points at stores to create a more sustainable future.
