‘We should have overtaken Waitrose already’, says M&S boss
He also believes that M&S has much more scope for growth in the e-commerce sector
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M&S CEO Staurt Machin has argued that the company should have “already overtaken” Waitrose following its latest strong results.
The company revealed that its profits had risen 41% to £673m while sales increased in both food and fashion departments.
In an interview with the The Telegraph, Machin said: “You could argue we should have overtaken [Waitrose] already. I might even be arguing that internally here. I think in the past we have fallen into the trap. That’s why I do get a bit anxious. We’re on track. But it doesn’t mean we’re done. It doesn’t mean everything is great.”
Machin also stated that over the next 12-18 months he wants the company to focus more on “a bit more selling and serving”, claiming that he has seen sales treble when the retailer has staff helping customers with purchases such as suits.
He also believes that M&S has much more scope for growth in the e-commerce sector.
Machin said: “We want customers to shop in a more digital way, we want the app to be easier. We want it to be more interactive. I stand in stores on a Saturday looking at customers shopping, in womenswear, in denim, and not sure what to buy. People need help. Our size guide isn’t good enough.”
