Marks & Spencer has announced a £400 million investment to expand its grocery business, just ahead of its full-year results due on Wednesday. The retailer plans to open 20 new food halls and refurbish 100 existing stores as part of the strategy.
The investment aims to boost M&S's market share in the grocery sector, which has seen increased competition from discounters like Aldi and Lidl. The company expects the expansion to create hundreds of jobs across the UK.
M&S has also been focusing on improving its online grocery delivery service, partnering with Ocado to reach more customers. The new stores will feature a wider range of products, including fresh produce and ready meals.
Analysts will be watching Wednesday's results closely for updates on the company's turnaround plan. M&S has been working to cut costs and streamline operations while investing in growth areas like food.
