Ocado's (OCDO) share price plummeted 11 per cent following a third-quarter update from the group and it's safe to say that's the last thing the online grocer needs. Facing down the threat from online giants such as Amazon (US:AMZ) is damaging margins, and average order sizes also contracted 3.4 per cent during the period.
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Most disappointing for investors was the lack of news surrounding a new licensing deal. Ocado's existing contract with supermarket chain Morrisons (MRW) helped push volumes and gross sales upwards, but the group is in dire need of a similar deal to fuel future growth.
