S Poddar
Marks & Spencer (M&S) will invest a huge £50 million to increase its presence in the North West. Under this move, the retailer will launch a new store in Liverpool and undertake major improvements to an existing food hall. This is part of M&S’s overall plan to renovate and maximize its store locations so that they are well placed in key retail locations.
The firm’s store renewal and rotation initiative is gaining pace, with intentions to restore and expand its retail footprint. The latest quarterly report reflects the effectiveness of this strategy, with newly opened and renovated stores demonstrating robust performance.
This ambitious investment will be rolled out over the next three years, with refits scheduled for three stores in the North West. Five new stores are also on the cards for areas such as Liverpool, Cheshire, Greater Manchester, and Lancashire, although all developments are pending the granting of the requisite planning permissions.
One of the highlights of this expansion is the planned full-line store at New Mersey Retail Park in Speke, South Liverpool. The new store will replace the food hall, and if approved, it will introduce a broader variety of products ranging from apparel and home furnishings to beauty products as well as improved food offer.
In Formby, M&S is to open a new food hall at The Point development in place of the current one. The new food hall will provide a more open and airy shopping space and will bring approximately 60 new jobs into the local community.
In Cheshire, M&S is also remodelling its full-line store at Gemini Retail Park in Warrington to serve changing customer needs more effectively. The rebuild will improve customer shopping experience, responding to a variety of different customer behaviors, and making operations more efficient.
This major investment reaffirms M&S’s dedication to innovation in line with changing consumer needs, as well as its intent to solidify its market position in the competitive retail industry. The priority given to prime locations and better shopping conditions is consonant with M&S’s overall aim of remaining at the forefront of the market.
These changes are set to enhance the local economy by providing jobs and boosting trade in prime shopping destinations. Through modernized store layouts and increased product offerings, M&S will strive to improve the shopping experience for customers in the North West to be more convenient and enjoyable.
Though the investment is susceptible to planning permits, M&S is positive regarding the future of its retail policy. This decision not only represents the company’s expansion agenda but also demonstrates its continuous commitment towards delivering quality products and services amidst an ever-changing retail environment.
