Marks & Spencer increases technology investment

Retailer spends £114m in 2007 as part of modernisation programme

Marks and Spencer financial results reflect the firm's increased capital expenditure

Marks & Spencer has increased its spending on supply chain and technology from £39m last year to £114m in 2007, according to the retailer's financial results published this morning.

The increase in technology spend is part of a wider modernisation programme which saw the firm's capital expenditure rise to £792.4m this year from £337.7m last year.

Supply chain capital expenditure reflects investment made in new distribution centres in food and general merchandise.

The increase in technology spending includes new financial systems as well as a major project to replace tills.

The company is also working on upgrading its in-store ordering system to use a single integrated order platform across all channels of stores, telephones and online.