Shares in Ocado fell 3%, dragged by gloomy retail data and by a warning from John Lewis Partnership -whose Waitrose products it distributes- that future trading will get tougher.
The shares fell 4.5p to 145.25p, well below its market debut price of 180p.
Britain's retail sales dropped by 0.5% between July and August, the Office for National Statistics said earlier today. The ONS said the decline in spending had been across the board, with falls in sales of food, clothing and footwear.
High street retailer John Lewis warned this morning it expects a tougher environment ahead.
"For the remainder of this year and into 2011, we anticipate more challenging trading conditions as higher taxes and public spending cuts begin to bite and household disposable incomes come under pressure," the company said in a statement.
The partnership -which is owned by its employees- said operating profit rose 15% to £145.2m, pushed by strong sales at its department stores and Waitrose supermarket chain.
