Marks & Spencer is stepping up its store acquisition programme, securing ten new sites in prime locations to boost its retail presence. This expansion comes as the high street staple aims to push forward with its store rotation strategy, allowing the brand to refresh and strategically enhance its store footprint.
In its half-year report for the 26 weeks ending 28 September, M&S reported strong momentum, having opened two food halls within full-line stores and three standalone food locations. These new stores, averaging 14,000 sq ft—almost double the size of typical M&S food stores—allow for a wider range of products, and have exceeded sales targets by around 8%.
The retailer is also advancing its refurbishment plans, with four completed renewals and another eight scheduled for the second half of the year. M&S’s renewed stores, launched in 2023, saw a 9% sales increase, underscoring the success of its “reshape M&S for growth” strategy.
In addition, M&S trialled a smaller 7,000 sq ft store format in Sidcup, showcasing its full range in a more compact space—a pilot that yielded “encouraging” results. The eight new food stores opened in 2024 are projected to bring in annualised sales of £117 million.
Stuart Machin, CEO of M&S, commented on the positive impact of the strategy: “Both food and clothing have now delivered market share growth for four consecutive years. We’ve seen an increase in customer numbers, sales value, volume, market share, and profitability.”
For the reporting period, M&S recorded a 17.2% rise in profit before tax and adjusting items, reaching £407.8 million. However, Machin remains focused on the future, stating, “The easy thing to do would be to celebrate these results, but there’s more opportunity for growth ahead, and that’s what drives us.”
With a mix of new openings, store upgrades, and innovative formats, M&S’s latest moves signal a commitment to expanding its reach and enhancing customer experience across the UK.
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