LONDON, May 26 (Reuters) - British retailer Marks & Spencer expects online penetration of its clothing and home business to reach up to one half, its boss said on Wednesday.
“The trend online has accelerated,” M&S CEO Steve Rowe told reporters after the group reported 2020-21 results.
“We thought about a third of our sales would be online, its looks more like 40-50% in short order,” he said.
As a result he said M&S was being prudent in examining the size of its store estate.
Reporting by James Davey, Editing by Paul Sandle