Tesco saw £4bn wiped off the value of its shares after the UK's largest retailer warned on profits and revealed 'disappointing' Christmas sales figures.

Shares in Ocado fell to an all-time low after the troubled retailer warned that continued problems at its distribution centre would mean yet another year of pre-tax losses.

The retailer has warned that "trading circumstances create material uncertainties which may cast significant doubt on the Group's ability to continue as a going concern in the future".

Australia's largest retailer, Coles Myer Ltd., warned for the second time since February that weak department store sales would hurt earnings this year.

Prepare to wear polyester, retailers warned, saying the tariffs could lead to higher prices and scarcities of goods like cashmere sweaters and silk blouses.

But the retailer warned that July's official results would probably fall short of its targets because of "declining consumer confidence in its primary markets."

Britain's biggest retailer warned that it would see minimal growth next year as it invests in winning back shoppers.

However, nearly all the retailers reporting today warned that 2012 would be tough, even with the benefit of the Olympics and the Diamond Jubilee.

Consumer groups and some retailers warn that stoves are not for everyone, because they require money up front and take effort to use.

Meanwhile, retailers such as Game, Clinton Cards and Blacks Leisure have warned of falling sales.