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M&S Eyes 500 Sites for Food Expansion Post-Cyberattack
23 Nov
Summary
- M&S plans to open 500 new sites, doubling its food business size.
- The retailer aims for 180 mixed stores and 420 dedicated food shops.
- A recent cyberattack cost M&S £324 million and disrupted operations.
Marks & Spencer is strategically pursuing a major expansion of its retail footprint, with plans to identify and establish 500 new store locations. This initiative is designed to significantly bolster its food business, aiming for a dual-format approach with 180 mixed M&S stores and 420 specialized food shops. This bold move signals a strong recovery trajectory following a costly cyberattack.
The retailer's recovery is underscored by this ambitious growth plan, which seeks to enhance its presence nationwide. M&S aims to modernize over half of its existing stores by April 2028, demonstrating a commitment to updating its portfolio. Recent store openings in London, such as Clapham High Street and Fulham Broadway, have been met with strong public interest, reflecting positive momentum.
This expansion comes after the company endured a significant cyberattack, which resulted in an estimated £324 million in losses and temporary cessation of online sales and click-and-collect services. The breach, attributed to human error, necessitated the dismantling of inventory systems and led to empty shelves, but M&S reports regaining momentum with consecutive monthly volume growth in its food division.
