Experience unparalleled shopping this festive season as M&S sets a new record with an unprecedented number of store openings in November. This strategic move is a pivotal part of M&S’s ongoing revitalization, strategically positioning itself in major retail hubs just ahead of the crucial Christmas trading season.
With a substantial investment of £80 million, M&S is unveiling nine stores this month, comprising six new units and the refurbishment of three existing stores. Key locations such as Birmingham’s Bullring, Manchester’s Trafford Centre, and Essex’s Lakeside shopping centre will host three of the new stores.
Noteworthy among the additions are three larger-format units, offering an extensive range of products including clothing, beauty, homewares, and food—a testament to M&S’s commitment to delivering a comprehensive shopping experience.
Sacha Berendji, M&S Operations Director, highlights the importance of these store openings, stating, “Stores are key to our business, and we see them as part of our competitive advantage. Increasing numbers of customers are heading back into stores to experience the best of M&S all under one roof, and we expect this to continue as we head into Christmas.»
In response to economic challenges, M&S accelerated its plans to optimize its store estate last year, transitioning from 247 larger stores to 180 more productive and high-quality large shops. This strategic shift is projected to result in substantial rent savings, exceeding £300 million.
While the focus on fewer clothing stores is apparent, M&S remains committed to its fashion category, expanding its third-party offerings to 60 labels. Reports suggest the retailer plans to further increase this to 100 third-party brands, anticipating a significant boost in sales.
Elevating its fashion credentials, M&S launched major ad campaigns featuring Sienna Miller for the autumn/winter collection and a star-studded Christmas campaign with talents like Hannah Waddingham, Zawe Ashton, Sophie Ellis-Bextor, and Tan France.
Recent figures indicate M&S’s highest share of the clothing market in almost eight years, with anticipation for even more positive news in the upcoming interim results next week.
M&S’s robust momentum in physical store expansion is a pivotal component of its broader turnaround strategy, resulting in improved revenues and profits. The retailer’s return to the UK’s FTSE100 index in September after a four-year absence is a testament to its positive trajectory. Explore the unparalleled shopping experience at M&S this Christmas.
