Hours after having announced the latest in a series of new stores openings in Bath and Bristol, M&S has denied turning its back on city centre high streets.
In response to concerns that M&S is focusing too heavily on shopping centres and retail parks, chairman Archie Norman said there was “absolutely not a pro-out-of-town or anti-city-centre policy”, The Telegraph reported him as saying at the retail giant’s AGM on Tuesday (2 July).
M&S has also announced store openings in Ladymead Retail Park, Guildford, and in Gallagher Retail Park in Dundee.
However, Norman did admit: “We do have some older stores that are hard and costly to maintain and run so we have to look at that.”
Stuart Machin, the M&S chief executive, also said the company “could not afford to refurbish” some of these sites and would instead be investing in stores located near fast-growing communities.
He added this meant looking for new locations in city centres, as well as out-of-town locations.
The company announced on Tuesday plans for new flagship stores in Bath’s SouthGate shopping centre, and at the Cabot Circus shopping centre in Bristol, backed by £38 million worth of investment, M&S said.
M&S is still awaiting the outcome of a high court ruling over the future of one of its most well-known high street stores on London’s Oxford Street. The retailer wants to completely redevelop the site against conservation group and current government wishes.
Copyright © 2024 FashionNetwork.com All rights reserved.
Translated by Roberta HERRERA Published September 20, 2024 On Monday, September 23, the historic Place de l'Opéra in Paris will be transformed i
By AFP Translated by Nicola Mira Published September 20, 2024 Bernard Arnault, boss of global luxury giant LVMH, has notified the group’s top
Translated by Nicola Mira Published September 20, 2024 Lithuanian vintage fashion e-tailer Vinted, which made a profit for the first time in 2023
Published September 20, 2024 Luxury outerwear brand Mackage has launched its fall/winter 2024 collection with a new campaign starring supermodel St