Stuart Rose, chief executive of Marks & Spencer, is planning an £85m price-cutting campaign to target Next, its high-street rival. M&S's move to gear up for a price war comes as retailers report dismal high-street trading in recent weeks: with shoppers shunning their stores. A survey by the investment bank Goldman Sachs shows Rose has radically repositioned M&S's pricing, and the analysts expect further price cuts this year.