Doubling food sales within five years is in Marks & Spencer’s sights on the back of its joint venture with Ocado, the retailer’s chairman claimed yesterday as he defended the multimillion-pound deal.
Shares in M&S have fallen by more than a quarter since it announced its £750 million tie-up with Ocado in February, slashed its dividend and asked investors to support a £600 million rights issue to fund the deal.
