Marks and Spencer Group PLC (LSE:MKS) revealed it will be investing £30 million into its sites in London, with plans to open two new food halls and create more than 100 new jobs.
Twelve stores in the capital will undergo renovations as part of the funding, while fresh-market-style food halls will be opened in Sidcup and Friern Barnet.
As part of the revamps, sites will have larger bakeries, click-and-collect services and new dedicated areas for flowers and wine products.
Locations receiving an upgrade include Chancery Lane, Islington, Teddington and Blackheath.
M&S said it expected the Sidcup eatery to open within the month, while the Friern Barnet location will open in August.
Sacha Berendji, director of operations at the retailer, said: “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.”
Last week, Marks and Spencer’s shares hit their highest level since the summer of 2018 after the retailer reported a higher-than-expected jump in annual profits.
Profit before tax and adjusting items came to £716.4 million in the year to March 30, up 58% on the previous year to the highest level in a decade and beating analyst forecasts.