Majestic reports solid Xmas sales growth & welcomes new Retail MD

Majestic Wine Plc has announced today that group sales, for the 10 week Christmas trading period ending 1 January 2018, increased by 3.2% in like-for-likes. On an underlying basis the increase was 4.1%.

The group, which has divisions in the UK, US and Australia, delivered around 30% of total annual sales during the Christmas trading period. The Gross Margin percentage was broadly flat year-on-year.

Majestic Retail, the UK's largest specialist wine retailer with 210 branches, delivered a good result with sales up 1.2% (1.3% like-for-like) versus tough comparatives of 6.2% (7.5% like-for-like) last year. Also, Naked Wines UK saw a sales uplift of 7.4%.

Subject to continued satisfactory trading, the firm remains on track to achieve current market expectations and to accelerate sales growth in the medium term by increasing our investment in new customer acquisition.

Majestic Wine also announced Joshua Lincoln has been appointed Retail & Managing Director of Majestic Retail with immediate effect. Lincoln has been Customer Director at Majestic Retail since 2016. Prior to this he oversaw Sales and Service in Naked Wines in the UK, USA and Australia.

Rowan Gormley, Chief Executive, commented, '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.

'I am very pleased to announce that Josh Lincoln has been appointed Retail & Managing Director. Josh's promotion is richly deserved having transformed our store network into an entrepreneurial retail proposition during his time as Customer Director.

'We are on track to achieve our £500m 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.'