Marks & Spencer will invest £30 million in its London stores over the next year, which includes opening two new foodhalls and creating 100 new jobs.
This investment follows M&S’s best financial results in nearly three decades, with profits for the year ending in March rising 58 percent to £716 million.
The retailer’s turnaround has been attributed to a refreshed clothing and food offering, which has attracted hundreds of thousands of new customers.
M&S announced plans to give a multi-million-pound facelift to 12 of its stores in the capital.
Two new fresh-market-style foodhalls will open in Sidcup and Friern Barnet.
The Sidcup location will open later this month, and the Friern Barnet store will open in August.
The stores slated for modernization include those in Islington, Chancery Lane, Teddington, and Blackheath.
Sacha Berendji, Operations Director at M&S, said: “We cannot wait to bring the magic of M&S to even more customers across the capital.
“Expanding our presence in London is a key part of our growth strategy – our market share in food is higher here than any region in England and there is plenty of untapped potential.”
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Customers at the 12 upgraded stores will benefit from larger in-store bakeries and dedicated Flower and Wine shops.
Each store will also feature Click & Collect facilities, catering to the 63 percent of M&S customers who currently collect online orders in-store.
M&S, which has over 80 stores across Greater London, has invested more than £20 million in its London store estate in recent years.
M&S CEO Stuart Machin highlighted the retailer’s strong financial health, stating it is “the best it has been in decades.”
In a testament to its popularity, M&S sold 60 million pairs of knickers last year, averaging 114 pairs per minute.
