Warehouse retailer toasts rising profits

16 November, 2007

Majestic's strong growth continues, with pre-tax profit for the 26 weeks to Oct 1 up 16.7 per cent to £7.5 million.

The specialist drinks retailer enjoyed sales of £91 million, with like-for-likes up 2.4 per cent on the same period in 2006.

The average cost of a bottle of wine bought at Majestic is now £5.85, compared

with £5.66 in 2006, and average spend per customer has increased by £7 to £128.

Fine wine sales continued to show good growth, the retailer said, with sales of £20-plus wine increasing by 17.5 per cent. By Christmas, 38 branches of Majestic will have fine wine display areas, and there will be 141 stores in the UK.

Chief executive Tim How added: "Like-for-like UK sales for the four weeks from Oct 2 to Oct 29 were up 2.2 per cent. While we expect the environment to continue to be challenging, we are well-prepared for the important Christmas trading period."




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Richard Hemming MW: beware inverse snobbery

Few things can bring communal pleasure so intimately as wine. Apart from a hot tub, perhaps. Sport can trigger mass jubilation, film gives us shared empathy, but wine has a nigh-unique ability to bestow conviviality among us through a shared bottle – which makes it especially galling that we spend so much time divided over it.

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