Preparations for the switchover from Waitrose products to M&S in September "are on track", she said, and full-year retail revenue guidance of 10-15% was left unchanged. Shares in Ocado fell 8% to 1,364p on Thursday morning, having risen 18% since the start of the year. Analysts at Hargreaves Lansdown said: "There may be some capacity constraints at the moment but we still think Ocado's in a good spot. As the pandemic progresses we expect more people will want, or be forced, to avoid physical shops.