MARKS & Spencer has denied giving up on city centre high streets, as it prepares to exit its historic home at Aberdeen St Nicholas.
In response to concerns that M&S is focusing too heavily on retail parks, Archie Norman, the company’s chairman, said there was “absolutely not a pro-out-of-town or anti-city-centre policy” at the retailer.
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It follows a recent openings in non-high street locations, with M&S this year announcing new stores at Ladymead Retail Park in Guildford, Surrey, and in Gallagher Retail Park in Dundee.
In Aberdeen, it is investing £15million in its Union Square store and closing it’s flagship outlook overlooking Union Street.
When asked during the company’s annual general meeting whether M&S had given up on the high street, Mr Norman said it was “absolutely not trying to leave city centres”.
However, the M&S chairman added: “We do have some older stores that are hard and costly to maintain and run so we have to look at that.”
Stuart Machin, the M&S chief executive, said the company “could not afford to refurbish” some of these sites and would instead be investing in stores located near fast-growing communities.
Mr Machin said this meant it would be looking for new locations in city centres, as well as out-of-town locations.
Mr Norman’s remarks will ease concerns over the future of the high street, with retail chiefs having previously warned that more towns and cities risk becoming “wastelands” amid increased closures.
A report authored by the Retail Sector Council, whose members include the chief executives of Sainsbury’s, Boots and Primark, called for policymakers to reform competition law and level the playing field between online retailers and bricks-and-mortar stores.
