Marks & Spencer Expanding Food Business

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Nov. 05 (Bloomberg) -- Bloomberg’s Charles Allen reports on Marks & Spencer’s earnings and global strategy. He speaks on Bloomberg Television’s “On The Move.” (Source: Bloomberg)

Expected.

They dropped 1.3% for the quarter.

In general merchandise, and choose a better than expected.

Profits a little bit more problematic.

You worked with me about the food is doing extremely well in terms of market share for ready meals.

Do they need to go online?

This one the issues for m&s, market share is under 4%. they have a much higher in ready meals.

The question is do they need to be able to -- and the only real way is to go online and have a click and collect or something like that.

It would be a major investment as something they are not quite ready for yet.

It needs to be in the background.

Why is marks & spencer still underinvested?

One of the reasons is everybody was come in and you can look back to the presentation every five or six years and the stores are underinvested and the i.t. and distribution.

Finally they got to the i.t. and distribution.

We only have 2 out of 4 warehouses built.

And the double running cost.

The stores themselves, one of the problems.

It's a double edged sword.

People look to the become the property value because the on the stores.

They have to spend money themselves.

When you look at rivals in terms of putting in escalators and making the story more attractive, marks & spencer has not had that level of major investment even after all of the cosmetics.

We had figures from a.b. foods.

You argue that primark is the new him and asked -- m&s? into the 70s they were famous for doing the basics very well.

Good prices.

To a certain extent ammann they have moved and -- to a certain extent, they have moved and marks & spencer is more into -- not a huge range.

Very good volumes and they can achieve a lower margin and more attractive prices.

Charles allen, thank you so much.

Coming up, the final thoughts with our markets team.

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This text has been automatically generated. It may not be 100% accurate.

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