Marks & Spencer (M&S) has said it will speed up a major shake-up of its stores which will result in the closure of 67 larger shops.
M&S currently operates two large stores in the centre of Aberdeen, a full-line store on St Nicholas Street and a food and homeware shop in Union Square shopping centre.
The retailers other sites in and around the Granite City also include an M&S Simply Food outlet in Bridge of Don and a few smaller petrol station convenience stores.
Elsewhere in the north and north-east, there are Simply Food stores in Westhill and Inverurie in Aberdeenshire, Elgin in Moray, and Inverness, Aviemore, Fort William and Oban in the Highlands and Argyll.
Inverness also has a full-line branch in Eastgate shopping centre.
Store shake-up planned
It has not yet been confirmed which stores will close.
In 2019 M&S confirmed long-term plans to axe 110 stores as part of a sweeping overhaul under previous boss Steve Rowe.
A total of 67 “lower productivity, full line stores” among the 110 were to shut over the next five financial years.
The company is now seeking to speed up this transformation plan, with the aim of completing the stores shake-up over three years.
M&S stressed that the previously announced closures will be more than offset by new openings as the group seeks to focus more on its grocery business and online operations.
Focus on food outlets
The move will also see the retailer open 104 more Simply Food outlets over the same period, with many expected to reopen in the same area or location as sites earmarked for closure.
M&S said it had “made some progress to date” on the transformation of its stores portfolio but had further to go.
It is looking to exit the plan with 180 full-line branches and 420 food shops.
There will be a 20% reduction in retail space dedicated to clothing and home products, amid significant online growth.
The shake-up is part of a wider overhaul which will see M&S aim to deliver around £400 million in cost savings.
It comes under the leadership of recently-appointed chief executive Stuart Machin and co-chief executive Katie Bickerstaffe.
Conversation