Cheers all round at Majestic Wines
Profits were up 20% and like for like sales up 7.6%. Profit before tax increased by 20% to £7.3m (2009: £6.1m). Interim dividend was increased 17.9% to 3.3p net per share.
The company, which operates from 160 stores in the UK, said that total sales were up 10.2% to £117.6m (2009: £106.7m). Like for like sales in UK retail stores were up 7.6%.
Majestic said there was a substantial increase in active customers, up 14.0% to 496,000. Online sales increased 8.3% on last year and now represent 9.1% of UK retail sales. Sales of fine wine continued to increase, with sales of still wine priced at £20 and above increasing by 20.2% on last year.
The company aims to enlarge the group to at least 250 locations. In the six weeks from 28th September to 8th November 2010, like for like sales in UK stores were up 7.4%.
There are two new stores in Redhill and Windsor and since September, Majestic have opened new stores in Totnes, Ashbourne, Bracknell, Canterbury, Cobham and a second store in Cardiff.
Steve Lewis, CEO, said: "I am delighted that Majestic has achieved profit growth of 20.0% in the half year and I am very encouraged that we have been able to attract so many new customers." Story provided by StockMarketWire.com
The Retail Bulletin has organised their 2nd Multichannel Summit, to be held in London February 2nd 2011. The event is sponsored by k3 retail and will look at how retailers can maximize profits, market share and loyalty through cost effective, seamless, integrated multichannel strategies.
If you would like to attend as either a delegate or Networking Partner, go to www.retailbulletinconferences.com/multichannel2011
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