In light of increased growth in e-commerce (see below), M&S has reviewed its space requirements and has taken the decision to reduce its capital investments in UK space: in FY13, due to the store upgrades and the improvement in the supply chains (see below), M&S’ capital spending hit £821m. This is due to fall to £775m in FY14 and £550m from FY15 onwards. In turn, M&S will continue to develop the Group’s space especially through the Simply Food format.
The planned opening of new space will add c. 2% to UK and c. 15% to International space