Marks & Spencer general merchandise director Kate Bostock acknowledged at Marks & Spencer’s investor day today that the retailer has faced increased competition but was confident of its continued strength.
Speaking at the retailer’s investor day – its first in a decade - she said that increasing market share in categories in which M&S leads is a challenge as new market entrants and value retailers grow.
Bostock identified categories such as sport and recreation as representing growth areas, along with 24/7 selling opportunities as multichannel grows.
The development of multichannel operations was one of the investor day’s key themes. Bostock said there was an opportunity to deliver the range and availability of M&S’s flagship Marble Arch store to “the most remote” areas.
The investor day was viewed by observers as a key occasion for internal candidates to succeed Sir Stuart Rose to show their mettle. As well as Bostock contenders including finance and operations director Ian Dyson, food director John Dixon and retail and M&S Director boss Steve Rowe all gave presentations.