Tuesday 22 January 2019

Majestic Wine uncorks festive growth figures

The company booked a 3.2% rise in sales in the 10 weeks to January 1.

CITY Majestic
CITY Majestic

By Ravender Sembhy, Press Association City Editor

Majestic Wine has toasted rising sales over Christmas, the retailer’s most critical trading period.

The company booked a 3.2% rise in sales in the 10 weeks to January 1, with like-for-like retail sales up 1.3% compared to the same period last year.

Approximately 30% of the firm’s total annual revenues come during the festive trading season.

Majestic’s online Naked Wines business saw sales leap 13% as boss Rowan Gormley reiterated plans to hit £500 million in revenues by 2019.

“The fact that we have been able to grow sales and maintain margins shows that our winning formula of fabulous customer service from delightful people and delicious wines at fair prices works even when times are tough.

“We are on track to achieve our £500 million sales goal by 2019, on track to deliver market expectations for the current financial year, and on track to accelerate investment in new customers, new winemakers and more fantastic wines.”

In November, Majestic said it is time to put its “foot on the gas” as it cheered a return to profit.

The wine warehouse chain, which has 210 branches in the UK and two in France, posted bottom line pre-tax profits of £3.1 million for the six months to October 2 against losses of £4.4 million a year earlier.

Press Association

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