Proposed Tie-Up With Ocado Unilkely To Save M&S' Food Division, Says Analyst
A leading retail analyst has suggested that Marks & Spencer's proposed tie-up with online-only retailer Ocado will not be enough to turnaround the former's food division.
Marks & Spencer confirmed today that it is ' in discussions' with Ocado regarding a potential joint venture, in response to a report in the Evening Standard that suggested such a venture was imminent. It added that there is currently 'no certainty that these discussions will result in any agreement or as to the timing of any such agreement'.
In response to the news, Thomas Brereton, retail analyst for GlobalData, said that the planned deal is in line with the 'digital first' strategy M&S has been adopting, "to better cope with the rapid changes in shopper behaviour.
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