Majestic Wine Plc reported a 15.3 percent increase in sales over the festive season. Assisted by high sales for their retail partner Naked Wine. They also experienced a 4.1 percent increase in shares.
There are 210 Majestic Wine stores throughout the United Kingdom. They also have two branches in France. Their partner store Naked Wines operates throughout the United States, Australia and Britain.
The company typically generates 30 percent of its annual sales during the run up to the festive season as shoppers flock to the stores to stock up for Christmas parties and dinners.
According to a company provided consensus, their full year pre-tax profit is expected to hit 11.3 million pounds.
Like most retailers, the company has struggled as a result of the growth in discount stores such as Lidl and Aldi as well as online retailers offering cheaper prices. This has resulted in customers bypassing them to save money during the current economic climate.
The company is in the second year of its plan to turn the business around within three years. According to recent figures, it appears that they are on track for success.
Photo credit: Ralf Smallkaa