Britain’s M&S to invest $587 million in store estate

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Reuters UK

By James Davey LONDON (Reuters) – British clothing and food retailer Marks & Spencer plans to open 20 new, bigger stores in its 2023-24 year as part of a radical overhaul of its store estate that will see it invest 480 million pounds ($587 million). The 139-year old group said on Monday the investment would generate more than 3,400 new jobs across the United Kingdom. M&S’s move shows the continuing importance of physical stores to retailers despite the rise of online shopping over the last two decades. M&S and fellow clothing retailers Next and JD Sports Fashion have all highlighted a post-pan…

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