Marks & Spencer (M&S) boss Sir Stuart Rose has admitted the retailer made basic errors at its first Shanghai store.
Rose told the Financial Times that M&S has made “basic shopkeeping” mistakes but it wants to continue its expansion on the Chinese market.
He said there had been a “screw-up” that led to the store’s food shelves being under stocked in its initial months of trading.
Yet Rose added that the retailer will not rush to expand further in China and will first ensure it has the basics figured out.
M&S still plans to increase revenue from international operations to between 10 and 15%, Rose said.
Last month, the firm’s boss of China operations, Richard Sweet, left his post after M&S reviewed its employment structure.
