I can't wait for M&S's next raft of TV advertising: "This is not just any Tabasco Sauce, it's... oh bugger, yes it is," Dervla Kerwin will intone, in her honeyed basso profondo.

Still, good news for retired army officers and Kensington housewives who will now be able to buy their balsamic-glazed guinea fowl and Bolivian chocolate puddings with Calvados jus, then pick up a box of Frosties while they're at it.

Critics have pointed out that unless M&S is prepared to sell Coke and Weetabix at the same price as its competitors it will expose the retailer's premium pricing. Even the FT had a dig. "This is M&S Marmite. And that is why it costs 20% more than at Budgens," it wrote.

Not so, says Sir Stuart Rose, who insists his store offers "fantastic value for money". And how does M&S propose to demonstrate this? With its 'Dine in for two for £10' campaign. It's unlikely to get bargain hunters running for the aisles, especially when you compare it with Sainsbury's 'Feed your family for a fiver' ad campaign, which has the audacity to peddle decent, healthy meals that comfortably satisfy the appetites of four hungry people.