Marks and Spencer, the leading retailer of UK, is planning to open 20 new stores in Britain. This step of the retailer is expected to create 3,400 jobs throughout Britain. The openings will bring new store investment to 480 million pounds (US $ 587 million).
The group last November had proposed a target to reduce its full-line stores by 67 to 180 by 2028, while increasing its food-only stores by 104 to 420.
As per a report of The Times, M&S will open eight ‘full-line’ stores in shopping centres such as the Bullring, Birmingham and the Trafford Centre, Manchester, as well as in retail parks and high streets. It will also open 12 food halls, including in Stockport, Barnsley and the North Ayrshire seaside town of Largs, Scotland.
Stuart Machin, Chief Executive, M&S said that the investment in stores “fits into the levelling-up agenda, with the creation of jobs across the whole of the UK.”
It is worth mentioning here that the retailer reported strong Christmas sales last week, sequin-decorated partywear boosting its clothing sales.
