UK food and clothing retailer Marks & Spencer is reported to have scrapped its national pricing policy for its food business.
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M&S, which is currently expanding its chain of Simply Food convenience stores across the UK, is to introduce “selective” prices for some products sold at its Simply Food outlets in London and at railway stations, reported the Daily Telegraph.
The move, which is a similar strategy to that used by UK retailers Tesco and J Sainsbury for their convenience stores, is aimed at offsetting higher rents and staff costs in certain locations.
M&S currently operates 36 Simply Food stores, and plans to extend the chain to 150 stores by 2005-2006.
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By GlobalData
