Daily Management Review

Marks & Spencer to open 20 stores in UK


According to the company statement, UK retailer Marks & Spencer will open 20 large stores in the UK between 2023 and 2024 as part of an investment plan worth over £500 million, generating 3,400 jobs.

"M&S today revealed plans to invest roughly £480 million in expanding its stores across the UK. More than 3,400 new jobs will be created nationwide thanks to the retailer's investment. As part of an expedited program, the company has already announces opening of 20 new large shops during the upcoming fiscal year," the firm said in a statement.

The Daily Mail reported last year that 67 large Marks & Spencer stores with "poor productivity" in the UK would go down in five years due to expensive rent and energy costs.

In an effort to reduce renting expenses, Marks & Spencer has had to close 68 stores during the past few years. More than 30 shops closed during the coronavirus pandemic. The company has concentrated on selling groceries as a result of falling sales of apparel and household items.

source: dailymail.co.uk