Marks & Spencer plans an extensive expansion of its food business by opening numerous new stores throughout the UK. The retail giant aims to double the size of its food division by adding 500 new locations across Britain. This initiative follows a significant cyberattack earlier this year that cost the company £324 million.
In London, Marks & Spencer is targeting the opening of 200 potential stores, particularly in zones two and three of the capital. The company is scouting for retail spaces ranging from 10,000 to 18,000 square feet with convenient access to public transport and nearby parking facilities. Outside London, the focus is on larger plots accessible from major roads, with a minimum size of 18,000 square feet and a minimum of 100 parking spaces to accommodate the full M&S Food range.
According to The Times, eight new food-only stores are scheduled to open by the end of the year. Alex Freudmann, the managing director of M&S Food, expressed confidence in the performance of the new stores, prompting further exploration of locations across the UK, stretching from Elgin in Scotland to Exmouth in Devon. The company is accelerating its expansion efforts, with more than 20 stores slated to open or undergo modernization by the end of the financial year.
Despite a sharp decline in pre-tax profits to £3.4 million in the first half of the fiscal year, Marks & Spencer’s food division has exhibited robust sales performance, according to Chief Executive Stuart Machin. Following the cyberattack that disrupted supply chains and impacted online sales, the company is now refocusing on its grocery market share, which currently stands at 4%.
Looking ahead, the new stores will feature enhanced amenities such as wider aisles and larger car parks to cater to families. It is anticipated that over half of these stores will undergo refurbishment by April 2028.