Marks and Spencer will cut the price of many of its products in a bid to take on discount grocery and fashion stores. The price cutting drive has been announced at a time when their half year profits have fallen by 34%. M&S chairman Sir Stuart Rose said that the store group was planning to reduce costs to match the publics desire for cheaper goods. The group have also been running promotions such as their "dine in for £10" and weekend promotions which appear to be tempting customers back to their stores.