LONDON (Reuters) -British retailer Marks & Spencer will invest 340 million pounds ($457 million) in an automated distribution centre in central England, building capacity to support its ambition to double the size of its food business, it said on Thursday.
M&S, which is recovering from a cyberattack in April which crippled its online operations, said the 1.3 million square feet facility in Daventry will open in 2029.
It said 1,000 jobs will be created permanently at the site and 2,000 during construction.
“This investment will boost capacity for future growth, lower our cost to serve over the long-term, and improve product availability,” Alex Freudmann, managing director M&S Food, said.
Industry data published on Wednesday, showed M&S recorded a 6.7% year-on-year increase in food sales over the 12 weeks to August 9 as the impact of the cyberattack faded.
Market researcher NielsenIQ said M&S’ UK grocery market share was 3.7%.
($1 = 0.7434 pounds)
(Reporting by James Davey, Editing by Paul Sandle)
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