UK: Majestic Wine's Christmas boosted by fine wine sales
The company reported strong sales of fine wines over Christmas
UK retailer Majestic Wine saw a single-digit rise in sales over Christmas as fine wines performed strongly.
The Watford-headquartered group, which has 200 UK stores, reported today (8 January) that like-for-like sales in the ten weeks to 6 January rose by 2.8%. Total sales, including new store openings, were up by 5.9%.
No further detail was given.
Steve Lewis, Majestic's chief executive said customers had chosen to "treat themselves". "We saw strong growth in sales of fine wine above GBP20 (US$33) per bottle," he added.
Wine producers operating in the UK are increasingly focussing on a premiumisation strategy as the market remains tough.
In full-year results, reported last June, Majestic said that pre-tax profits rose by 2.2% to GBP23.7m (US$37.3m), but sales fell.
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