Majestic Wine reports profits as it welcomes new MD

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Majestic Wine

Majestic Wine has pushed ahead in a “tough market” over Christmas as it announced rising sales and a new managing director.

In the 10 weeks to January 1, group sales rose 3.2 per cent year-on-year, or 4.1 per cent on an underlying basis.

This represents roughly 30 per cent of the alcohol retailer’s annual sales.

Although group gross margins remained flat over the period, its Majestic Wine retail arm saw sales rise 1.2 per cent against strong comparatives of 6.2 per cent last year.

However, Majestic Commercial saw a 4.6 per cent drop in sales.

Its Naked Wines retail division performed better, enjoying a 13 per cent increase in sales, including a 33 per cent rise in Australia and a 7.4 per cent rise in the UK.

“The team performed brilliantly,” chief executive Rowan Gormley said.

“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.”

Majestic Wine’s former customer director Joshua Lincoln has also been promoted to retail and managing director with immediate effect.

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