The former boss of Marks and Spencer, Sir Stuart Rose, is taking over as Chairman of online grocer Ocado. Rose left M&S at the start of 2011 after a six years. Ocado sales were up 14% over Christmas, to £91.6 million in the six weeks to January 6.
Sir Stuart Rose said: "I have been very impressed at the impact and progress Ocado has made to date. As retail goes through a fundamental shift into the digital world, I believe Ocado's model and the high standards of customer service it provides will see it emerge as a powerful online player."
Despite a successful Christmas, Ocado has yet to post an annual profit.
Marks & Spencer Chief Executive Marc Bolland said the company is making "strong progress" in its bid to become an "international multi-channel retailer", despite reporting a drop in pre-tax profit during the first half of the year.
Instead, Mr Bolland highlighted the firm's performance in the second quarter, which was better than the previous quarter.
We took steps to address the short term merchandising issues in General Merchandise and as a result, we delivered an improved performance.
Eighteen months in, we are making strong progress with our plan to transform M&S into an International Multi-channel retailer.
Our new International stores are performing well, and our Multi-channel business is delivering strong growth.