Majestic Wine has reported “robust” Christmas trading and that it is on track to meet full-year expectations.
Majestic notched up group sales growth of 3.2% - or 4.1% on an underlying basis - in the 10 weeks to January 1.
Retail sales rose 1.2% in total and 1.3% on a like-for-like basis.
The retailer’s gross margin was “broadly flat” year on year.
Majestic makes almost a third of its annual sales over the Christmas period and chief executive Rowan Gormley said the business was on track to deliver iuts target of £500m in sales by 2019.
He said: “The team performed brilliantly. 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.”
Majestic also revealed that Joshua Lincoln has been promoted to become retail and managing director of Majestic Retail.
He has been customer director at Majestic Retail since 2016 and before that oversaw sales and service at stablemate Naked Wines in the UK, USA and Australia.
No comments yet