New Zealand shares fell, led by Pumpkin Patch, amid concerns cautious consumers who are making it hard for retailers to lift their margins.
The NZX 50 Index fell 27.568, or 0.8 percent, to 3241.097.
Within the index, 35 stocks fell, 10 rose and five were unchanged. Turnover was $110 million.
Pumpkin Patch dropped 8.6 percent to 64 cents, having touched 62 cents, a record low the stock first reached earlier this month.
Retailers "have a lot of problems ahead", said Alan Moore, a director at Milford Asset Management.
Postie Plus was unchanged at 25 cents after it reported a 4.3 percent drop in first-quarter sales, blaming the changes to the school year to cater for the Rugby World Cup for sapping demand for school uniforms.
The company's sales were $23.97 million in the three months ended October 31, down from $25.01 million a year earlier.
Restaurant Brands, which operates the KFC, Pizza Hut and Starbucks chains in New Zealand, fell 3.3 percent to $2.06.
Chorus, the telecommunications network company spun off from Telecom, extended its advance in its second day of trading, gaining 2.8 percent to $3.30, and up from a listing price of $2.94.
Auckland International Airport, the nation's busiest gateway, fell 1.5 percent to $2.315.
The airport lifted the number of international passengers by 9.3 per cent in October, making up for a decline in domestic travellers.
International passengers rose to 634,994 excluding transits in October, from 581,088 in the same month last year, helped by Rugby World Cup visitors.
Cavalier, the carpet maker, rose 0.9 percent to $2.23 after the High Court in Wellington dismissed an appeal against the regulatory approval for an acquisition that would give Cavalier Wool Holdings the ability to build a wool scouring monopoly in New Zealand.
NZN