Marks & Spencer eyes 500 locations for potential new stores

Marks & Spencer is ramping up its store expansion plans. The British department store giant has said it is eyeing 500 areas across the UK for potential new retail locations.

The company is particularly looking to double the size of its Food business, with an overall plan targeting 180 full line stores and 420 Food stores. Large sites that have the possibility of stocking the full range of M&S Food are being zoned in on.

These latest plans come alongside an ongoing process by the retailer to either open new locations or renew existing stores, with 20 sites to have undergone one of the two processes by the end of the financial year.

The focus on its store estate is part of Marks & Spencer’s wider strategy of reshaping the business for growth, with an emphasis on selecting the “right space in the right places”.

In a statement, managing director of M&S Food, Alex Freudmann, said: “The strong performance of our new M&S food stores gives us the confidence to explore even more locations across the UK, from Elgin to Exmouth.

“With more than 20 stores opening or modernised before the end of the financial year, we are moving faster. Our team want new sites where we could open a large M&S Food store as we deliver on our strategy to bring the right stores to the right places and offer the best shopping experience, range and availability for our customers.”