Marks & Spencer (M&S) is pursuing the growing commuter market in Dublin's outskirts and has decided to open a store next year in Newbridge, Co Kildare.
Retail industry sources said the chain will disclose next week that it has agreed to take space for a food and fashion store in the new Whitewater centre, a facility that will be the largest shopping centre outside Dublin.
The chain, which has reported an upturn in business between July and September, has opened big outlets this year in Dundrum, Blackrock and Galway. With 11 stores in the Republic, M&S is expected by separate retail sources to turn annual sales this year of roughly €350 million.
After prolonged difficulties in its home market, M&S issued a positive trading statement for first time in two years yesterday. British retail sales were up 3.3 per cent, mainly due to a 6.3 per cent rise in food sales, while like-for-like sales in its home market were up 1.3 per cent. These figures were followed with news last night that consultant George Davies was leaving its Per Una women's fashion business, along with its finance director.
While analysts believe the M&S business in the Republic has proved more robust than its home market, its Ireland executive Neil Hyslop said much remained to be done.
"Today's trading results are encouraging and reflects the improving trends in Ireland. We are now trading from 11 stores and serving a lot of new Irish customers, from whom we are getting a very positive response," he said. "Our main focus is driving value for our Irish customer and we continue to develop value product ranges across all departments."
