M&S has shared its ambition to accelerate what is a five-year store rotation programme and target delivery within three years by 2025/26. As part of its programme acceleration, M&S has already identified a pipeline of 20 new bigger, better stores to be opened in the next financial year.

The retailer’s investment will generate over 3,400 new jobs across the country and aims to create a fit for the future M&S store estate and a seamless experience for its customers.

Commenting is Stuart Machin, chief executive of M&S

“Stores are a core part of M&S’s omnichannel future and serve as a competitive advantage for how customers want to shop today. Our store rotation programme is about making sure we have the right stores, in the right place, with the right space and we’re aiming to rotate from the 247 stores we have today to 180 higher quality, higher productivity full-line stores that sell our full Clothing, Home and Food offer whilst also opening over 100 bigger, better food sites.

“The outperformance of our recently relocated and renewed stores gives us the confidence to go faster in our plan. Our investment in stores not only delivers a better experience for customers and colleagues, but it also boosts local communities with new job creation and will help us deliver a more sustainable estate in every sense.”

The new store pipeline for 2023/24 includes eight full-line destination stores in key city locations. This includes a new 97k sq. ft store in Leeds White Rose and a 70k sq. ft store in Liverpool ONE, both due to open in summer 2023. Later in the year, other major stores will open including a 65k sq. ft store in Birmingham Bullring in autumn 2023. Plus, a 96k sq. ft store in Manchester’s Trafford Centre and a 98k sq. ft store in Lakeside Thurrock, both set to open in winter 2023.

All five new stores will be relocated to former Debenhams sites – part of M&S’s investment to regenerate currently vacant sites

Each store has been designed with local families in mind, too. For instance, spacious Clothing, Home and Beauty departments; brand-new M&S cafes; sustainable innovations such as Fill Your Own, as well as free car parking to make shopping more convenient for customers.

M&S has seen strong performances from its recently relocated stores, with payback on net capital investment within two years giving the retailer the confidence to go faster. Through the store rotation programme, M&S will see a reduction in lease liability (£309m).

New stores support the omnichannel shopping experience customers want

The store rotation programme is underpinned by new digital services to offer an omnichannel service to customers. This includes the roll-out of Digital Click & Collect to 130 stores across the UK, enabling customers to collect their parcels in under 60 seconds.

In M&S’s Christmas trading update, there was a 33% uplift in sales through the M&S app. Active app users also grew to five million, up from four million. In the period, a third of all online sales were made through the M&S App and those who shop with M&S on multiple channels are eight times more valuable – demonstrating the advantage of a truly omnichannel retail offer.

Building a sustainable store estate in every sense

In 2021, M&S reset its Plan A programme with a singular focus on becoming a net zero business across its entire value chain by 2040 – 10 years earlier than the Government’s UK-wide strategy. As well as introducing more efficient LED lighting and smart building controls this year, M&S is exploring energy generation opportunities across the estate, including the installation of solar PVs at several viable sites.