Sir Stuart says M&S will continue expansion

MARKS & Spencer chairman Sir Stuart Rose has committed the group to opening one of its biggest stores in Yorkshire despite the scheme being delayed.

Sir Stuart said that the group “is committed” to a 60,000 sq ft Marks & Spencer store in the Eastgate Quarter development in Leeds being delayed because of the economic downturn.

“I don’t know when it will happen but we are committed to it,” he said.

The retail giant signed a deal last year to create one of the largest stores outside London on the site off Briggate but later in the year joint developers Hammerson and and Leeds-based Town Centre Securities signalled that work will not start on the project, which will include an 85,000 sq ft John Lewis department store, until at least next year.

The Marks & Spencer store will be one of its biggest outside the capital, where it has its flagship Marble Arch store.

Speaking at the launch of a new exhibition to mark the store chain’s 125th anniversary and its archive moving to a new purpose-built home at the University of Leeds, Sir Stuart said M&S can continue its growth by expanding the size of the biggest 50 of its 600 stores.

“The top 50 will get bigger, there is potential to grow. We are number one in womenswear, number one in menswear and third biggest in childrenswear. We can sell more branded goods, we now sell TVs.

“We will work harder online and internationally. The most important word for the consumer these days is trust.”