Amazon Links Up With Marks & Spencer

Amazon (AMZN Quote - Cramer on AMZN - Stock Picks) jumped into the European Web site services game Tuesday, agreeing to backstop the Internet presence of struggling British retailer Marks & Spencer.

Terms weren't disclosed, but Amazon said its Amazon Services Europe will host and provide the technology behind the Marks & Spencer branded site and its in-store and telephone ordering and customer services systems. Marks & Spencer will remain responsible for the management of its site, customer service operations, warehousing and distribution.

Marks & Spencer has been hit hard by shortcomings in its fashion offerings and strong competition from rivals like Wal-Mart (WMT Quote - Cramer on WMT - Stock Picks) unit Asda. The company shrugged off a brief hostile run last year from investor Philip Green last year amid talk that Marks & Sparks needed to shake up its offerings.

Amazon closed Tuesday at $33.