Marks & Spencer is bouncing back, and reaping the rewards of a smaller, more efficient organization.
He also took M&S Food online for the first time through the Ocado Retail joint venture, closed more than 60 stores and rebuilt profitable growth in the international business.
The retailer’s tie-up with the home delivery service Ocado helped contribute to the bottom-line gains in the past year as did an ongoing real estate reshuffle that is seeing M&S shut, consolidate and upgrade stores, put a bigger focus on food and move to more strategic locations. He said the overarching aim with clothing and home is to create a contemporary in-house range that’s bought in greater depth, alongside a “family of internal and external partner brands” meant to provide broader choices to customers.“We are at the very early stages of transitioning to an omnichannel business backed by exceptional data and highly personalized customer relationships, and a more sustainable, profitable model is starting to emerge,” Rowe said of clothing and home.
Looking ahead, Rowe said there is still much to do with the clothing, home and food supply chains requiring further investment. In clothing and home, the store will be looking to improve capacity and store operations and also reduce costs.
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