Tuesday, 12 November 2013

Beleaguered Marks & Spencer Boss Complains There Has Been 'Decades Of Underinvestment'

The chief executive of Marks & Spencer has taken the unusual step of writing an opinion piece for the Daily Telegraph detailing the difficulties of turning the business around.

Bolland says in the piece that he is launching a new web platform in the spring to offer customers 'choice and inspiration'. The platform is part of an overhaul of the business that will see it sever ties with long-term partner Amazon which currently runs its ecommerce function.

Marks & Spencer is in the process of switching systems to its own and said recently that in some cases it is running 'three separate systems' to deal with the complexity of the switch.

He says in the Telegraph piece: 'Over the past 130 years, M&S has been most successful when it has taken large steps forward. I want to build solid building blocks for the future. We are tackling two decades of under-investment in IT systems and logistics network, overhauling these systems to provide a firm foundation for the company, as well as focusing on ecommerce and international.'

Marks & Spencer has made several presentations to City analysts and journalists over recent months as it tries to explain how the business transformation is progressing.

However, it has been criticised for moving too slowly and for missing targets set by the chief executive and finance director.

No comments:

Post a Comment