Marks & Spencer share price: Retailer looking for head of data science

Marks & Spencer Group (LON:MKS) is looking to recruit a head of data science, industry publication The Grocer has reported. The move comes with the high street retailer aiming to become a digitally-led business.

Tuesday's trading saw the Marks & Spencer share price climb higher, gaining 0.97 percent to close at 281.50p. The stock outperformed the broader UK market, with the benchmark FTSE 100 index adding 0.44 percent to end trading at 7,469.92 points. The retailer’s shares have added nearly two percent to their value over the past year, as compared with about a 3.8-percent gain in the Footsie.

M&S to recruit head of data science

The Grocer reported yesterday that Marks & Spencer was looking to recruit a head of data science. The new recruit will be a senior data science leader in the business and will have responsibility for establishing the retailer’s data science vision and strategy, according to a LinkedIn job advertisement.

Duties in the role include introducing machine learning to several areas of the business, striving to automate and generate new revenue opportunities, and utilising cutting-edge data science and machine learning techniques.

The move comes with the blue-chip retailer looking to become a digitally-focused business. Last year, the company hired Jeremy Pee as its first chief digital and data officer.

Analysts on high street retailer

Credit Suisse group trimmed its stance on the high street retailer to ‘underperform’ last week, further slashing its target on the Marks & Spencer share price from 315p to 250p. Jefferies meanwhile lowered its rating on the blue-chip company to ‘hold,’ and now sees the stock valued at 280p, down from 310p. According to MarketBeat, the London-listed retailer currently has a consensus ‘hold’ rating and an average price target of 272.93p.

Marks & Spencer is scheduled to update investors on its full-year performance on May 22.