THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Majestic reports strong sales growth but swings to first half loss

Majestic Wines has reported strong first half sales growth as it continues to work on its transformation plan.

FOOD & DRINK

Majestic reports strong sales growth but swings to first half loss

Majestic Wines has reported strong first half sales growth as it continues to work on its transformation plan.

In the six months to 26 September, total sales increased by 13.2% year-on-year to £205.6 million.

However, the company made a pre-tax loss of £4.4 million compared to a profit of £4.3 million in the same period in the previous year after taking into account £4.5 million of adjusted items, largely relating to Majestic’s acquisition of Naked Wines.

Like-for-like Majestic retail sales rose by 5.7% with the performance driven by a 9.1% increase in customer numbers. This in turn was underpinned by improvements in product availability and customer retention.

Naked Wines saw its sales increase by 26.7% despite a failed direct mail campaign.

Meanwhile, Majestic Commercial sales edged up 1.2% in the period.

Rowan Gormley, Majestic group chief executive, said: “A year ago, we laid out a detailed plan to restore the Majestic group to long term sustainable growth. "Sustainable" being the key word.

“To do that we have to transform Majestic from a single country, single channel retailer into an international, multi-channel, multi proposition business.

“That plan is well underway and beginning to work.

“We remain confident that we are on track to deliver our goal of £500 million in sales by 2019, and that this sales growth will translate into long term, sustained growth in shareholder returns.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process